SAN DIEGO – FINRA has announced a string of reforms to its troubled arbitration dispute resolution system, such as a plan to hire 1,000 more arbitrators, but a recent presentation on the changes yielded few new details on some of the biggest issues raised by its critics.

At the annual meeting of the Public Investors Arbitration Bar Association, FINRA’s director of dispute resolution Richard Berry, gave little indication about whether or not FINRA will launch a fund to cover the estimated one third of arbitration awards to investors that go unpaid. In these cases, investors receive no compensation for their losses, which are sometimes caused by unscrupulous or incompetent brokers. In some cases, the brokers who harmed them go on to work at other firms.

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