Joshua Horn- FINRA arbitrations may never be the same because FINRA recently proposed to redefine "public arbitrator" to exclude anyone from the financial industry from falling within that definition.  Couple that proposal with the existing ability of a claimant to select an all public panel and you have a totally new arbitration system. 

Read the full article [HERE]. 

From another article at WealthManagement.com:

FINRA asked the SEC on Wednesday to approve new rules curbing industry insiders’ ability to serve as public arbitrators. Under the new rule, anyone with direct ties to the financial services industry, no matter how old, will be barred from serving as a public arbitrator.

The rule is a reversal is a reversal of previous stipulations, in which the regulator allowed those who had previously been associated with the industry to serve as public arbitrators after a “cooling down” period of two to five years, depending on their role.

Read the full article [HERE].