Finra Recommends Ejecting Arbitrators Who Demean Women
October 29, 2019 by Miriam Rozen
Financial advisors take heed: it could backfire badly for Finra hearings if you select lawyers or arbitrators whose behavior places them in the “good ol’ boy” category. Such “stale, pale and male” individuals, prone to making sexist or otherwise inappropriate comments about women, run the risk of being kicked out of proceedings.
Finra staff recently recommended for removal from its pool of arbitrators a man who had made an inappropriate remark to one of its staff members, according to the industry self-regulating agency’s spokesperson. And Finra staff likely will remove from a panel and recommend for removal from its pool another male arbitrator who, during a telephone pre-hearing conference asked a Southern female lawyer if she was as good-looking as she sounded, the Finra spokesperson said.