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FINRA proposed a rule change that would implement
minimum fees for requests for the expungement of customer dispute
Under the proposal, FINRA
Rule 12000 ("Code of Arbitration Procedure for Customer
Rule 13000 ("Code of Arbitration Procedure for Industry
Disputes") would be amended to apply:
- minimum filing fees to requests for the expungement of customer
dispute information, including in instances where the request is
made (i) in part with a customer arbitration or (ii) in a separate
arbitration (a/k/a a "straight-in request");
- minimum process fees and member surcharges to straight-in
- minimum hearing session fees to expungement-only hearings.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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