SEC OKs FINRA’s Bid to Expand Disciplinary Panel June 21, 2016

As explained in this story from Securities Law Daily, the Securities and Exchange Commission (SEC) has approved a rule change that will allow the Financial Industry Regulatory Authority’s National Adjudicatory Council (NAC) to grow in size. Under the change, the disciplinary panel will add another non-industry member. McCarthy Lebit Investor Claims lawyer and Public Investors Arbitration Bar Association (PIABA) president Hugh Berkson commented that while PIABA was supportive of the proposal the group would have preferred it be a public member instead of a non-industry one.

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