FINRA Bolsters Diversity Efforts in Dispute Resolution Forum – Bloomberg BNA

The Financial Industry Regulatory Authority (FINRA) has moved to diversify its pool of new arbitrators dealing with investor disputes by increasing the numbers of both African American and women arbitrators in 2016. In December of 2015, FINRA began its minority recruitment for a deeper and more diverse pool of arbitrators following the recommendations of a task force. Jacob Zamansky told Bloomberg BNA that “while FINRA deserves credit for reaching out to minorities, the statistics do not reflect the overall population. There should be much more than 14 percent minorities on panels and more than 24 percent women.” Zamansky, who represents investors in the forum said, “Investors want to feel like they have a fair shake at arbitration, and we need to encourage more women and minorities to be on the panels. Much more needs to be done so that the arbitrators look and sound like America.”

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