Securities Law Prof Blog

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

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Tuesday, April 10, 2012

SEC Approves FINRA Rule Change on FLSA Collective Action Claims

The SEC approved a FINRA proposed rule change to make explicit FINRA's longstanding position that collective action claims brought under the Fair Labor Standards Act are class actions and therefore ineligible for arbitration in its forum.  The rule change was made necessary by a federal district court opinion that held to the contrary. (Download 34-66774[1])

http://lawprofessors.typepad.com/securities/2012/04/sec-approves-finra-rule-change-on-flsa-collective-action-claims.html

SEC Action, Securities Arbitration | Permalink

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