Thrivent Seeks Order Requiring SEC to Revisit FINRA Arbitration

Thrivent Financial for Lutherans and an affiliated investment adviser are asking a federal appeals court to review the SEC’s refusal to amend FINRA arbitration requirements for customer accounts or disputes.

The Securities and Exchange Commission in December denied Thrivent’s bid to remove or amend requirements for customer arbitration procedures. The nonprofit financial services company now aims to compel the SEC to reconsider, according to bid for review of the agency’s order filed Wednesday in the US Court of Appeals for the District of Columbia Circuit.

Thrivent has had success challenging another agency, the Labor Department, on an anti-arbitration rulemaking provision. ...