NASD Notice to Members 05-35 - May 2005

SEC Approves Amendments to IM-10104 and Rule 10315 to Permit Arbitrations in Foreign Hearing Locations; Effective June 6, 2005

Executive Summary

The Securities and Exchange Commission (SEC) has approved amendments to IM-10104 and Rule 10315 of the NASD Code of Arbitration Procedure (Code) to permit parties to have their hearings in a foreign hearing location, and to allow the director of arbitration to authorize a higher or additional honorarium for the use of a foreign hearing location.

 

The text of the amendments is set forth in Attachment A. The amendments will be effective on June 6, 2005, and will apply to any arbitration claims filed on or after June 6, 2005.

 

Questions regarding this Notice may be directed to Mignon McLemore, Assistant Chief Counsel, NASD Dispute Resolution, at (202) 728-8151 or by email.