FINRA Issues Regulatory Notice on Customers' and Employees' Right To Choose Securities Arbitration

摘要

Access to arbitration in the securities industry's regulated forum is supposed to be guaranteed to customers with brokerage accounts and to employees of broker-dealers under Financial Industry Regulatory Authority Inc. Rules 12200 and 13200. U.S. federal circuit courts, however, currently are split on whether, under gen- eral contract interpretation principles, FINRA member firms can circumvent their duty to arbitrate by inserting forum selection clauses into their customer and employment agreements.