SEC Approves Rule Change to Raise the Cap for FINRA Simplified Arbitration Claims to $50,000

Yesterday the SEC approved a FINRA-proposed rule change to raise the cap for Simplified Arbitration claims (i.e., paper hearings) from $25,000 to $50,000. As I wrote in a comment letter filed in support of the rule change proposal, which the SEC quoted in its approval order, the higher claim limit should “benefit investors by enhancing … Continue reading SEC Approves Rule Change to Raise the Cap for FINRA Simplified Arbitration Claims to $50,000

Prisoner’s Dilemma Game Show

In a video clip gone viral last week (hat tip to Scott Peppet), I am linking to the ending of a British game show in which the participants play a version of the prisoner’s dilemma with the winnings at the end.  High-stakes one-shot Prisoner’s Dilemma on a British game show with an astounding strategy http://boingboing.net/2012/04/24/high-stakes-one-shot-prisoner.html … Continue reading Prisoner’s Dilemma Game Show

CFPB will begin study of consumer arbitration

It looks like the CFPB will begin its required study of consumer arbitration. From Ballard Spahr: “The Consumer Financial Protection Bureau announced today that is has initiated its study of consumer arbitration as mandated by Section 1028 of the Dodd-Frank Act. It submitted to the Federal Register for publication a “request for Information Regarding Scope, … Continue reading CFPB will begin study of consumer arbitration

SEC Approves FINRA Proposal to Exempt Collective Actions from FINRA Arbitration

In January, I reported here that FINRA had filed a rule change proposal with the SEC to amend FINRA Dispute Resolution’s Code of Arbitration Procedure to clarify that collective actions are not arbitrable in the forum.  The SEC granted accelerated approval earlier this month.  The approval order explains that FINRA amended slightly its proposal in response … Continue reading SEC Approves FINRA Proposal to Exempt Collective Actions from FINRA Arbitration