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ARTICLE · 03 SEPTEMBER 2020

FINRA Proposes Temporary Rule Amendments To Allow Virtual Hearings

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FINRA proposed temporary amendments to FINRA Rules 1015, 9261, 9524 and 9830 to give the Office of Hearing Officers and National Adjudicatory Council the authority to conduct hearings by video conference.

United StatesLitigation, Mediation & Arbitration
Hogan Lovells Cadwalader
Hogan Lovells Cadwalader
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FINRA proposed temporary amendments to FINRA Rules 1015 ("Review by National Adjudicatory Council"), 9261 ("Evidence and Procedure in Hearing"), 9524 ("National Adjudicatory Council Consideration") and 9830 ("Hearing") to give the Office of Hearing Officers and National Adjudicatory Council the authority to conduct hearings by video conference. The types of virtual hearings that would be permitted under these amendments include (i) appeals of Membership Application Program decisions, (ii) disciplinary decisions, (iii) eligibility proceedings and (iv) cease and desist orders.

The amendments will become operative on September 30, 2020, and will be effective through December 31, 2020.

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