Type:Notice
Citation:90 FR 12616
Reading Time:about 17 minutes
The Securities and Exchange Commission (SEC) is reviewing a proposed rule change by the Financial Industry Regulatory Authority (FINRA). The rule is meant to speed up arbitration proceedings for parties who are at least 70 years old or have serious health conditions. This involves setting shorter deadlines for various procedural steps in the arbitration process. The SEC is seeking public comments on whether the proposed rule aligns with existing regulations, and comments are due by April 8, 2025.
Simple Explanation
The SEC is looking at a new rule from FINRA that would make certain legal cases go faster for older people or those who are sick, but they need to make sure it's fair and clear before deciding.