The proposal expands the “non-public” arbitrator definition by: (1) requiring individuals who worked in the financial services industry for any duration to always be classified as non-public arbitrators; (2) adding new categories of financial industry personnel who...
Second Circuit Clarifies Definition of “Customer” Under FINRA Rules
Last week, the Second Circuit issued an important opinion clarifying who may be considered a “customer” of a FINRA member firm. In Citigroup Global Markets Inc. v. Abbar et al. (No. 13-2172) (2d Cir. Aug. 1., 2014), the Second Circuit held that a customer, under the...
