Do securities arbitration decisions become public records?
Securities arbitration decisions do not become public records. This is because arbitration proceedings are confidential. In the state of Texas, securities arbitrations are conducted in accordance with the rules of the Financial Industry Regulatory Authority (FINRA). These rules provide that all arbitration proceedings and associated documents are confidential and are not subject to public access or inspection. This means that the outcome of an arbitration, including any decisions or awards issued, are not made available to the public or published in any form. However, any person involved in an arbitration may obtain copies of the arbitration documents, or any part of them, upon request to the arbitrator or the FINRA Dispute Resolution Department. Additionally, the FINRA may release an award publicly if both parties in the arbitration proceedings give their consent. In conclusion, securities arbitration decisions do not become public records in Texas. The hearsay and other documents related to the arbitration case, as well as the decisions and awards issued, are kept confidential pursuant to FINRA’s rules. However, parties involved in the arbitration proceedings may obtain copies of the documents upon request.
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