SIFMA has declared itself “very disappointed” and looking for recourse, once again, after FINRA failed to address its concerns over the inability-to-pay defense, a hot-button issue for the trade group.

Since as far back as 2010, SIFMA, which represents several hundred broker-dealers, has pressured FINRA to change its rules so that a broker’s inability to pay an arbitration award is no longer a legitimate way to avoid paying the firm what’s owed while also avoiding suspension.

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