FINRA issues proposed rule change regarding timing, method of service, and other procedural requirements

Federal Issues Covid-19 FINRA SEC

On May 7, FINRA filed a proposed rule change with the SEC to provide temporary relief from certain timing, method of service, and other procedural requirements in FINRA rules during the outbreak of Covid-19. The proposed rule change would (i) allow or require, as applicable, FINRA to serve certain documents by email, (ii) require applicants, respondents, and other parties to file or serve documents by email for certain proceedings and processes, unless otherwise agreed by the parties, (iii) provide extensions of time to FINRA staff, respondents, and other parties in connection with certain adjudicatory and review processes, and permit oral arguments before the National Adjudicatory Council to be conducted by video conference.