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⚖️FINRA Proposes Accelerated Arbitration Rules for Older and Ill Parties

The SEC published a notice regarding FINRA's proposed rule change to amend the Codes of Arbitration Procedure, enabling accelerated processing for arbitration cases involving parties aged 70 or older or those with qualifying health conditions. This rule aims to shorten arbitration timelines significantly, enhancing accessibility for vulnerable populations in financial disputes.

⚖️Proposed Changes to FINRA Arbitration Rules and Their Impact

The SEC is considering a proposed rule change from FINRA to amend the Codes of Arbitration Procedure related to the selection process for arbitrators. Key adjustments aim to increase the representation of non-chair-qualified public arbitrators and streamline administrative practices within arbitrations, ensuring more effective dispute resolution protocols. External stakeholder input on this proposal is also invited.

📄FMCS Notice on Arbitrator's Personal Data Questionnaire

The Federal Mediation and Conciliation Service (FMCS), invites the public and other Federal Agencies to take this opportunity to comment on the following information collection request, Arbitrator's Personal Data Questionnaire, FMCS Form R-22. This information collection request will be submitted for approval to the Office of Management Budget (OMB) in compliance with the Paperwork Reduction Act (PRA). The Arbitrator's Personal Data Questionnaire, FMCS Form R-22, allows FMCS to comply with its statutory obligation to make governmental facilities available for voluntary arbitration. To carry out this policy, FMCS have issued regulations which provide for the operation and maintenance of a roster of professional arbitrators. The arbitrators are private citizens, not employees of FMCS, and are paid by the parties for hearing and deciding the issues submitted under a collective bargaining agreement and in other circumstances. Applicants for listing on the roster submit an Arbitrator's Personal Data Questionnaire, FMCS Form R-22, which is used by FMCS to evaluate their qualifications. This allows FMCS to be able to restrict its roster to qualified individuals only.

⚖️FMCS Notice on Arbitrator's Report and Fee Statement Compliance

The Federal Mediation and Conciliation Service (FMCS), invites the public and other Federal Agencies to take this opportunity to comment on the following information collection request, Arbitrator's Report and Fee Statement, FMCS Form R-19. This information collection request will be submitted for approval to the Office of Management Budget (OMB) in compliance with the Paperwork Reduction Act (PRA). The Arbitrator's Report and Fee Statement, FMCS Form R-19, allows FMCS to comply with its statutory obligation to make governmental facilities available for voluntary arbitration. To carry out this policy, FMCS have issued regulations which provide for the operation and maintenance of a roster of professional arbitrators. The FMCS Form R-19, which arbitrators file with the Agency following each decision rendered, allows FMCS to monitor the work of the Arbitrator and to collect arbitration information, such as median arbitrator fees and days spent on each case, for the Agency's annual report.

📜Annual Update on Surface Transportation Board Arbitrator Roster