10311. Peremptory Challenge
This Code was superseded by the Customer Code (Rule 12000 Series) and the Industry Code (Rule 13000 Series) on April 16, 2007, for claims filed on or after that date. The Code remains in effect, however, for cases filed before April 16, 2007.
(a) In an arbitration proceeding, except as provided in Rule 10335, each party shall have the right to one peremptory challenge. In arbitrations where there are multiple Claimants, Respondents, and/or Third-Party Respondents, the Claimants shall have one peremptory challenge, the Respondents shall have one peremptory challenge, and the Third-Party Respondents shall have one peremptory challenge. The Director may in the interests of justice award additional peremptory challenges to any party to an arbitration proceeding. Unless extended by the Director, a party wishing to exercise a peremptory challenge must do so by notifying the Director in writing within 10 business days of notification of the identity of the person(s) named under Rule 10310 or Rule 10321(d) or (e), whichever comes first. There shall be unlimited challenges for cause.
(b) This Rule shall not apply to arbitration proceedings that are subject to Rule 10308.
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Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008. Amended by SR-NASD-98-48 eff. Nov. 17, 1998. Amended by SR-NASD-97-34 eff. Aug. 6, 1997; SEC Rel. No. 34-38907 (8/14/97). Amended by SR-NASD-93-38 eff. Jan. 3, 1996. Amended by SR-NASD-91-49 eff. Jan. 2, 1992. Amended eff. Oct. 1, 1984. Selected Notices: 98-90, 08-57. |