FINRA has ended the administrative postponement of in-person hearings in all hearing locations across the country. Last month, the Financial Industry Regulatory Authority (FINRA) announced that, effective July 5, 2021, it would end the administrative postponement of in-person arbitration hearings in 62 of its 69 hearing location. The administrative postponement had been in place since the beginning of the COVID-19 pandemic and effectively had prevented most investors from obtaining relief from broker misconduct unless they were willing to have virtual hearings via Zoom. Even where they were willing to do so, in many instances brokerage firms objected to Zoom hearings and some arbitration panels upheld such objections.
FINRA has now announced that the administrative postponement of hearings the remaining seven locations (Detroit, Boca Raton, Augusta, Buffalo, Providence, Philadelphia, Wilmington) will end effective August 2, 2021. Investors will not be able to proceed with in-person hearings in all 69 FINRA hearing locations across the country.