Supreme Court could put pressure on Finra class-action policy July 10, 2017

This story from Investment News details a pending case that, depending on the outcome, could put pressure on FINRA to change its rules governing arbitration clauses. Currently, FINRA prohibits brokerage firms from including class-action waivers in their arbitration clauses. However, if the Trump adminstration, which contradicts this position, prevails in NLRB v. Murphy Oil USA Inc., which will be heard next term, FINRA may feel political pressure to rethink its stance. That being said, McCarthy Lebit Investor Claims lawyer Hugh D. Berkson explains how FINRA has the power to maintain its stance, regardless of the outcome and why it may choose to do s.

Find A Lawyer