Client Advisory: SEC Approves FINRA Amendments to Discovery Guide

December 4th, 2013

After receiving approval from the SEC in April of this year, FINRA undertook an effort to revise the Guide with updated language regarding e-discovery and product cases as well as clarifications to affirmation provisions.


In September, the Securities and Exchange Commission (SEC) approved proposed amendments to the Financial Industry Regulatory Authority (FINRA) Discovery Guide (the Guide). FINRA’s Guide dictates discovery practices and provides a rough outline of the universe of discoverable documents in customer cases.  The Guide, which also includes two Document Production Lists for firms and customers, also serves as a supplement to FINRA’s Code of Arbitration Procedure for Customer Disputes (Customer Code).

The SEC’s amendments clarify provisions related to customer arbitration, e-discovery, product cases and affirmations. The changes became effective on Monday, December 2, 2013.

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