Barron's (May 5, 2017) - Finra’s board is set to take up “two nettlesome issues,” writes InvestmentNews: brokers who keep getting jobs in the industry despite disciplinary black marks, and brokerages and brokers that stiff investors on arbitration awards.

On the self-regulator’s meeting agenda for next Wednesday is consideration of possible amendments and other steps to better police “high-risk brokers and the firms that employ them.”

In terms of policing the payment of arbitration awards, the board will consider tweaking the regulator’s arbitration procedures and its Uniform Application for Securities Industry Registration or Transfer form (used to become registered in a jurisdiction or SRO) regarding payment of arbitration awards by firms and brokers.

Failure to pay arb awards is a big problem in the industry. In 2013, investors were stiffed to the tune of $62 million—about a quarter of what they were owed, InvestmentNews notes. That’s according to the Public Investors Arbitration Bar Association.

“Unpaid arbitration claims also have caught the attention of Capitol Hill,” the publication writes. “Last month, Senate Democrats called on Finra to create a fund to compensate investors for unpaid arbitration claims.”