FINRA May Mandate Brokerages for Arbitration Institutions

Insurance Business Review 

October 8, 2013

The Financial Industry Regulatory Authority (FINRA) said $51m of arbitration awards granted in 2011 haven't been paid.  As a result, FINRA is mulling over mandating brokerage firms to have ‘errors and omissions’ insurance to cover damages caused due to negligence or misconduct of brokers.

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