12900. Fees Due When a Claim Is Filed

This rule is no longer applicable. NASD Rule 12900 has been superseded by FINRA Rule 12900. Please consult the appropriate FINRA Rule.

The Customer Code will apply to claims filed on or after April 16, 2007. In addition, the list selection provisions of the Customer Code will apply to previously filed claims in which a list of arbitrators must be generated after April 16, 2007; in these cases, however, the claim will continue to be governed by the remaining provisions of the old Code unless all parties agree to proceed under the new Code.

(a) Fees for Claims Filed by Customers, Associated Persons and Other Non-Members
(1) Customers, associated persons, and other non-members who file a claim, counterclaim, cross claim or third party claim must pay a filing fee in the amount indicated in the schedule below. The Director may defer payment of all or part of the filing fee on a showing of financial hardship. If payment of the fee is not deferred, failure to pay the required amount will result in a deficiency under Rule 12307.
Filing Fees for Claims Filed by Customers, Associated Persons,
and Other Non-Members

Amount of Claim
(exclusive of interest and expenses) 		Filing Fee
$.01 to $1,000 $50
$1,000.01 to $2,500 $75
$2,500.01 to $5,000 $175
$5,000.01 to $10,000 $325
$10,000.01 to $25,000 $425
$25,000.01 to $50,000 $600
$50,000.01 to $100,000 $975
$100,000.01 to $500,000 $1,425
$500,000.01 to $1 million $1,575
Over $ 1 million $1,800
Non-Monetary/Not Specified $1,250
(2) If the claim does not request or specify money damages, the Director may determine that the filing fee should be more or less than the amount specified in the schedule above, but in any event, the amount of the filing fee may not be less than $50 or more than $1,800.
(b) Fees for Claims Filed by Members
(1) Members filing a claim, counterclaim, cross claim, or third party claim must pay a filing fee in the amount indicated in the schedule below. Failure to pay the required amount will result in a deficiency under Rule 12307.
Fees for Claims Filed by Members

Amount of Claim
(exclusive of interest and expenses) 		Filing Fee
$.01 to $1,000 $225
$1,000.01 to $2,500 $350
$2,500.01 to $5,000 $525
$5,000.01 to $10,000 $750
$10,000.01 to $25,000 $1,050
$25,000.01 to $50,000 $1,450
$50,000.01 to $100,000 $1,750
$100,000.01 to $500,000 $2,125
$500,000.01 to $1,000,000 $2,450
$1,000,000.01 to $5,000,000 $3,200
Over $5,000,000 $3,700
Non-Monetary/Not Specified $1,500
(2) If the claim does not request or specify money damages, the Director may determine that the filing fee should be more or less than the amount specified in the schedule above, but in any event, the filing fee may not be less than $225 or more than $3,700.
(c) Partial Refund of Filing Fee
(1) If a claim is settled or withdrawn more than 10 days before the date that the hearing on the merits under Rule 12600 is scheduled to begin, a party paying a filing fee will receive a partial refund of the filing fee in the amount indicated in the schedule below, less any other fees or costs assessed against the party under the Code, including any hearing session fees assessed under Rule 12902. No refund will be paid if the NASD receives notice that a claim is settled or withdrawn within 10 days of the date that the hearing on the merits under Rule 12600 is scheduled to begin.
Partial Refund for Settlement or Withdrawal
More Than 10 Days Before Hearing on the Merits

Amount of Claim
(exclusive of interest and expenses) 		Refund
$.01 to $1,000 $25
$1,000.01 to $2,500 $50
$2,500.01 to $5,000 $125
$5,000.01 to $10,000 $250
$10,000.01 to $25,000 $300
$25,000.01 to $50,000 $450
$50,000.01 to $100,000 $750
$100,000.01 to $500,000 $1,125
Over $500,000 $1,200
Non-monetary/Not specified $1,000
(2) If the claim does not request or specify money damages, and the Director determines that the hearing session fee should be a different amount than the amount specified in the schedule in Rule 12902, the amount of the refund will be the amount of the hearing session fee determined by the Director, less any fees or costs assessed against the party under the Code, including any hearing session fees assessed under Rule 12902.
(d) Reimbursement of Filing Fees
In the award, the panel may order a party to reimburse another party for all or part of any filing fee paid.
Adopted by SR-NASD-2003-158 eff. April 16, 2007.

Selected Notices: 07-07

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