FINRA Says Video Conferences Now a Permanent Hearing Option

FINRA building in Philadelphia

The Financial Industry Regulatory Authority said Wednesday that as of Aug. 23, video conference hearings will be allowed for disciplinary and enforcement hearings before its Office of Hearing Officers and the National Adjudicatory Council under certain conditions.

The rule changes “make permanent, with some modifications, temporary amendments that allowed OHO and the NAC to order, without a motion, hearings to proceed by video conference based on public health risks related to COVID-19.

Beyond COVID-19

Under the amended rules, OHO’s and the NAC’s authority to order hearings by video conference, FINRA explained, “extends beyond the public health risks posed by COVID-19 to similar situations in which proceeding in person may endanger the health or safety of the participants or would be impracticable.”

For instance, “appearing in person may be impracticable in the event of a natural disaster or terrorist attack that caused travel to be cancelled for a period of time,” FINRA said.

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