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12903. Process Fees Paid by Members

(a) Each member that is a party to an arbitration in which more than $25,000, exclusive of interest and expenses, is in dispute must pay a non-refundable process fee, due at the time the parties are sent arbitrator lists in accordance with Rule 12402(c) or Rule 12403(b), as set forth in the schedule below.
Process Fee Schedule

 

Amount of Claim
(exclusive of interest and expenses)
Process Fee
$.01–$25,000 $ 0
$25,000.01–$50,000 $1,750
$50,000.01–$100,000 $2,250
$100,000.01–$250,000 $3,250
$250,000.01–$500,000 $3,750
$500,000.01–$1,000,000 $5,075
$1,000,000.01–$5,000,000 $6,175
$5,000,000.01–$10,000,000 $6,800
Over $10,000,000 $7,000
Non-Monetary/Not Specified $3,750

 

(b) If an associated person of a member is a party, the member that employed the associated person at the time the dispute arose will be charged the process fees, even if the member is not a party. 
(c) If an associated person files a request for expungement of customer dispute information against the customer pursuant to Rule 12302, the process fee for the member that employed the associated person at the time the customer dispute arose shall be the Non-Monetary/Not Specified fee under Rule 12903(a)(1). If the associated person adds a monetary claim to the expungement request, the process fee for the member that employed the associated person at the time the customer dispute arose shall be the Non-Monetary/Not Specified fee or the applicable process fee provided in Rule 12903(a)(1), whichever is greater.
(d) The panel may not reallocate to any other party any process fees paid by a member.
(e) No member shall be assessed more than one process fee in any arbitration.
Amended by SR-FINRA-2020-005 eff. Sept. 14, 2020.
Amended by SR-FINRA-2014-026 eff. Dec. 15, 2014.
Amended by SR-FINRA-2013-023 eff. Sep. 30, 2013.
Amended by SR-FINRA-2011-007 eff. Feb. 16, 2011.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Adopted by SR-NASD-2003-158 eff. April 16, 2007.

Selected Notice: 07-07, 08-57, 13-30, 14-49, 20-25.

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