22Apr/120
Exam Alert: FINRA rules to change to reflect Dodd-Frank changes to whistleblower laws

Dodd-Frank changes to federal law have prohibited predispute arbitration agreements from applying to whistleblower claims made under the Sarbanes-Oxley Act.  Effective May 21, 2012, FINRA's rules on predispute arbitration agreements will be revised to reflect this change. 

FINRA's amended rules will state that disputes that arise under whistleblower statutes that prohibit predispute arbitration agreements are not required to be arbitrated.  These disputes may only be arbitrated if both parties agree to do so after the dispute arises.

Source: FINRA Regulatory Notice 12-21

This exam alert applies to the Series 62, Series 79, Series 24, Series 7, and Series 82.

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