Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Wednesday, October 3, 2007

SEC Approves FINRA Rule on Representation of Parties

The SEC approved a new FINRA rule relating to representation of parties in arbitration and mediation.  Previously it was unclear whether out-of-state attorneys and non-attorney representatives could represent parties in SRO arbitrations.  The new rule provides that these issues are determined by applicable state law.  Non-attorney representatives, however, are prohibited if they are suspended or barred from the securities industry or suspended or disbarred from the practice of law.  The rule codifies existing practice allowing pro se representation.

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