9527. Application to SEC for Review

The right to have any action taken pursuant to this Rule Series reviewed by the SEC is governed by Section 19 of the Exchange Act. The filing of an application for review shall not stay the effectiveness of final action by FINRA, unless the SEC otherwise orders.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Amended by SR-NASD-99-76 eff. Sept. 11, 2000.
Amended by SR-NASD-98-57 eff. Mar. 26, 1999.

9526. Expedited Review

(a) Direction by Executive Committee
Notwithstanding Rules 9524 and 9525, the FINRA Board Executive Committee, upon request of the Statutory Disqualification Committee, may direct an expedited review of a recommended written decision of the Statutory Disqualification Committee if the FINRA Board Executive Committee determines that expedited review is necessary for the protection of investors

9525. Discretionary Review by the FINRA Board

(a) Call for Review by Governor
A Governor may call an eligibility proceeding for review by the FINRA Board if the call for review is made within the period prescribed in paragraph (b).
(b) 15 Day Period; Waiver
A Governor shall make his or her call for review not later than the next meeting of the FINRA Board that is at least 15 days after the date on which the FINRA Board receives the proposed written decision of the Na

9524. National Adjudicatory Council Consideration

(a) Hearing Panel Consideration
(1) Appointment of Hearing Panel
When the disqualified member, sponsoring firm, or applicant requests a hearing, the National Adjudicatory Council or the Review Subcommittee shall appoint a Hearing Panel composed of two or more members, who shall be current or former members of the National Adjudicatory Council or the Statutory Disqualification Committee or former Directors or Governors.

9523. Acceptance of Member Regulation Recommendations and Supervisory Plans by Consent Pursuant to SEA Rule 19h-1

(a) With respect to all disqualifications, except those arising solely from findings or orders specified in Section 15(b)(4)(D), (E) or (H) of the Exchange Act or arising under Section 3(a)(39)(E) of the Exchange Act, after an application is filed, the Department of Member Regulation may recommend the continued membership of a disqualified member or sponsoring member or the association or continuing association of a disqualified person pursuant to a supervisory plan where the disqualified member, sponsoring member, and/or disqualified pers

9522. Initiation of Eligibility Proceeding; Member Regulation Consideration

(a) Initiation by FINRA
(1) Issuance of Notice of Disqualification or Ineligibility
If FINRA staff has reason to believe that a disqualification exists or that a member or person associated with a member otherwise fails to meet the eligibility requirements of FINRA, FINRA staff shall issue a written notice to the member. The notice shall specify the grounds for such disqualification or ineligibility.

9521. Purpose and Definitions

(a) Purpose
The Rule 9520 Series sets forth procedures for a person to become or remain associated with a member, notwithstanding the existence of a statutory disqualification as defined in Article III, Section 4 of the FINRA By-Laws and for a current member or person associated with a member to obtain relief from the eligibility or qualification requirements of the FINRA By-Laws and FINRA rules.
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