13506. Discovery Requests

This rule is no longer applicable. NASD Rule 13506 has been superseded by FINRA Rule 13506. Please consult the appropriate FINRA Rule.

The Industry Code will apply to claims filed on or after April 16, 2007. In addition, the list selection provisions of the Industry 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) Requests for Documents or information
Parties may request documents or information from any party by serving a written request directly on the party. Requests for information are generally limited to identification of individuals, entities, and time periods related to the dispute; such requests should be reasonable in number and not require narrative answers or fact finding. Standard interrogatories are generally not permitted in arbitration.
(b) Making Discovery Requests
Discovery requests may be served:
  • On the claimant, or any respondent named in the initial statement of claim, 45 days or more after the Director serves the statement of claim; and

  • On any party subsequently added to the arbitration, 45 days or more after the statement of claim is served on that party.
At the same time, the party must serve copies of the request on all other parties. Any request for documents or information should be specific and relate to the matter in controversy.
Adopted by SR-NASD-2004-011 eff. April 16, 2007.

Selected Notices: 07-07

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