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FINRA will Seek to Ban Compensated Non-Attorney Representatives from Arbitrationsby Andrew Whiteman

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Whiteman Law Firm supports action by FINRA to ban compensated non-attorney representatives (“NARs”) from representing parties in securities arbitrations.

FINRA’s Board of Governors met on December 12 and 13 for its fourth quarter meeting. The Board approved filing with the SEC proposed amendments to the codes of arbitration and mediation procedure to prohibit compensated NARs from practicing in the FINRA arbitration and mediation forums. See FINRA’s press release dated December 21, 2018, for a full report.

This change was supported by the Public Investors Arbitration Bar Association (“PIABA”), a membership organization of attorneys who represent investors in securities arbitrations. See PIABA’s statement in support of the proposed rule change to ban compensated NARs.

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The lawyers at Whiteman Law Firm have been representing investors in securities claims for over 30 years. We represent individuals and businesses who have suffered financial losses due to fraudulent investment schemes sold by unscrupulous or inept investment promoters, stockbrokers, investment advisors or insurance salesmen. If you have suffered losses due to the misconduct of an investment professional, you need competent attorney representation to help you recover your losses. Whiteman Law Firm assists investors to recover losses through litigation and arbitration. Our attorneys represent investors in all types of securities disputes. We handle everything from complex federal and state court litigation to individual customer arbitrations. We can review the facts of your case on a confidential, no-cost basis, and advise you on your options for recovering your investment losses.

Please contact us for more information.

 

 

 

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