Law 360, New York (October 7, 2014 3:29 pm) -- The Financial Industry Regulatory Authority isn’t doing enough to recruit a diverse set of arbitrators or vet their biases, and as a result investors may be losing out, an organization for plaintiffs attorneys said Tuesday ahead of the first meeting of a FINRA task force for its arbitration program.

The Public Investors ArbitratioN Bar Association said it studied public disclosures made by some 5,375 FINRA arbitrators and found the pool to be overwhelmingly made up of older, well-educated men. About 80 percent of arbitrators available to hear investor disputes were male, while their average age is 69, the group said. More than one our of 10 arbitrators are over the age of 80, PIABA added.

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