The SEC has approved amendments to FINRA's arbitration rules. These amendments, effective July 23, 2012, raise the limit for claims under simplified arbitration from $25,000 to $50,000. These changes apply to both arbitration claims involving customers and claims involving other members of the securities industry.
Simplified arbitration is a streamlined arbitration process where both parties submit written statements to a single arbitrator, who then evaluates the claim. Note that if a counterclaim raises the amount in dispute to over the $50,000 limit, then the dispute will not be resolved through simplified arbitration.
Source: FINRA Regulatory Notice 12-30
This alert applies to the Series 62, Series 24, Series 82, Series 6, Series 7, Series 79, and Series 26.