This should be interesting. Certainly unpaid awards are a problem. So are unpaid judgments. Part of being a good attorney is knowing who to sue, and making sure that there is a pot at the end of the case.
And this is true whether you are in court, or in arbitration.
But more to the point, if FINRA wants to fund a pool, lets do it from their multi-million dollar salaries. FINRA has plenty of money to finance a pool. The real question is what is FINRA going to do about arbitrators who award a million dollars in punitive damages against a firm that defaults? They are going to pay that award?