UNITED STATES OF AMERICA

Before the

SECURITIES AND EXCHANGE COMMISSION

SECURITIES EXCHANGE ACT OF 1934 

Release No. 99915 / April 8, 2024

In the Matter of the

Financial Industry Regulatory Authority, Inc. 

Regarding an Order Approving a 

Proposed Rule Change to Amend the FINRA 

Codes of Arbitration Procedure and Code of 

Mediation Procedure to Revise and Restate the 

Qualifications for Representatives in 

Arbitrations and Mediations (File No. SRFINRA-2023-013) 

ORDER SCHEDULING 

FILING OF STATEMENTS ON 

REVIEW

On October 5, 2023, the Financial Industry Regulatory Authority, Inc. (“FINRA”) filed 

with the Securities and Exchange Commission (“Commission”), pursuant to Section 19(b)(1) of 

the Securities Exchange Act of 1934 (“Exchange Act”)1 and Rule 19b-4 thereunder,2 a proposed 

rule change to amend the FINRA Code of Arbitration Procedure for Customer Disputes, the 

Code of Arbitration Procedure for Industry Disputes, and the Code of Mediation Procedure, to 

revise and restate the qualifications for representatives in arbitrations and mediations in the 

forum administered by FINRA Dispute Resolution Services. The proposed rule change was 

published for public comment in the Federal Register on October 13, 2023.3 The public 

1

 See 15 U.S.C. 78s(b)(1). 

2

 See 17 CFR 240.19b-4. 

3

 See Exchange Act Release No. 98703 (Oct. 6, 2023), 88 FR 71051 (Oct. 13, 2023) (File No. SR-FINRA2023-013) (“Notice”). 
2 

comment period closed on November 3, 2023. The Commission received comment letters 

related to this filing.4 On November 9, 2023, FINRA consented to an extension of the time 

period in which the Commission must approve the proposed rule change, disapprove the 

proposed rule change, or institute proceedings to determine whether to approve or disapprove the 

proposed rule change to January 11, 2024.5 On January 8, 2024, FINRA responded to the 

comment letters received in response to the Notice.6 

On January 11, 2024, the Division of Trading and Markets (“Division”), pursuant to 

delegated authority,7 issued an order approving the proposed rule change.8 On January 19, 2024, 

the Deputy Secretary of the Commission notified FINRA that, pursuant to Commission Rule of 

Practice 431,9 the Commission would review the Division’s action pursuant to delegated authority 

and that the Division’s action pursuant to delegated authority was stayed until the Commission 

orders otherwise.10

Accordingly, IT IS ORDERED, pursuant to Commission Rule of Practice 431, that on or 

before May 8, 2024, any party or other person may file a statement in support of, or in opposition 

to, the action made pursuant to delegated authority. 

4

 The comment letters are available at https://www.sec.gov/comments/sr-finra-2023-

013/srfinra2023013.htm. 

5

 See letter from Kristine Vo, Assistant General Counsel, FINRA, to Lourdes Gonzalez, Assistant Chief 

Counsel, Division of Trading and Markets, Commission, dated Nov. 9, 2023, 

https://www.finra.org/sites/default/files/2023-11/SR-FINRA-2023-013-ExtensionNo1.pdf. 

6

 See letter from Kristine Vo, Assistant General Counsel, Office of General Counsel, FINRA, to Vanessa 

Countryman, Secretary, Commission, dated January 8, 2024, https://www.sec.gov/comments/sr-finra-2023-

013/srfinra2023013-366519-893662.pdf. 

7

 See 17 CFR 200.30-3(a)(12).

8

 See Exchange Act Release No. 99335 (Jan. 11, 2024), 89 FR 3481 (Jan. 18, 2024).

9

 See 17 CFR 201.431. 

10 See letter from J. Matthew DeLesDernier, Deputy Secretary, Commission, to Kristine Vo, Assistant 

General Counsel, FINRA, dated Jan. 19, 2024, https://www.sec.gov/files/rules/sro/finra/2024/34-99335-

letter.pdf. 
3

It is further ORDERED that the order approving proposed rule change SR-FINRA-2023-

013 shall remain stayed pending further order of the Commission.

By the Commission.

Sherry R. Haywood,

Assistant Secretary.