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Filings Down Year to Date at FINRA

By SHUSTAK REYNOLDS & PARTNERS of Shustak Reynolds & Partners, P.C. posted on Tuesday, September 13, 2011.

FINRA-DR reports that new case filings for the first seven months of 2011 are down 12% and adds that customer-initiated filings have decreased, compared to the first seven months of 2010, by 18%. FINRA mediations through July 2011 have been commenced in 395 instances and FINRA has closed 431 mediation cases. Approximately 80% of those cases concluded in settlements and turnaround time averaged 104 days. TNC also advises arbitrators that mileage reimbursement allowances, guided by IRS guidelines, have increased in the second half to $.555/mile from $.51 in the first half. The new mileage rate is reflected in the arbitrator expense forms.

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