What is the eligibility rule, in reference to arbitration?

The eligibility rule in reference to FINRA arbitration actions concerns whether or not your particular grievance is eligible to be determined by the FINRA organization through arbitration. They don’t decide all types of actions, only those which come within their purview. It is typically though used when it comes to the concept of a statute of limitations. If for example an action occurred that you were complaining about more than six years ago, then in general that action is no longer eligible to be considered by FINRA. That of course is the general rule. There are other potential eligibility issues which concern any claim being made through FINRA, the breadth of which is just too broad for this discussion.