{"id":5557,"date":"2013-12-02T00:00:00","date_gmt":"2013-12-02T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/12\/lawyers_investor_advocates_wan"},"modified":"2022-01-13T12:09:42","modified_gmt":"2022-01-13T18:09:42","slug":"lawyers-investor-advocates-wan","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/lawyers-investor-advocates-wan\/","title":{"rendered":"Lawyers, Investor Advocates Want to Know More About SEC Supervision Of FINRA\u2019s Arbitrator Selections"},"content":{"rendered":"\n

The Public Investors Arbitration Bar Association (PIABA) is working with consumer rights group Public Citizen to get the US Securities and Exchange Commission to release documents about its oversight of the Financial Industry Regulatory Authority\u2019s selection of the arbitrators who preside over disputes between broker-dealers and investors. According to PIABA President Jason Doss, because customers are \u201cforced\u201d into only having securities arbitration<\/a> as a resolution venue when they sign documents to set up brokerage accounts (in the event of future disputes), they should be allowed to know how FINRA decides who hears the arbitration cases.<\/p>\n

PIABA is a lawyers\u2019 group that represents investors with securities arbitration claims. Contending that this is an issue of \u201ctransparency,\u201d the attorneys have been trying to gain access to these documents for the last few years.<\/p>\n

The group\u2019s efforts started in 2010 with a Freedom of Information Act query to the SEC asking for documents that address how the regulator inspects FINRA\u2019s process for selecting arbitrators and looking into their backgrounds. However, even though FOIA grants the public access to federal agency records, it has exemptions. (The exemption exists to protect sensitive matters, such as customer\u2019s private financial data.) <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Public Investors Arbitration Bar Association (PIABA) is working with consumer rights group Public Citizen to get the US Securities and Exchange Commission to release documents about its oversight of the Financial Industry Regulatory Authority\u2019s selection of the arbitrators who preside over disputes between broker-dealers and investors. According to PIABA President Jason Doss, because customers […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3798,3953,3739,3761],"tags":[],"class_list":["post-5557","post","type-post","status-publish","format-standard","hentry","category-arbitration","category-arbitration-rulings","category-finra","category-securities-and-exchange-commis"],"yoast_head":"\nLawyers, Investor Advocates Want to Know More About SEC Supervision Of FINRA\u2019s Arbitrator Selections — Investor Lawyers Blog — December 2, 2013<\/title>\n<meta name=\"description\" content=\"The Public Investors Arbitration Bar Association (PIABA) is working with consumer rights group Public Citizen to get the US Securities and Exchange — December 2, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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