Depositions are strongly discouraged in arbitration. Upon motion of a party, the panel may permit depositions, but only under very limited circumstances, including:
(a) To preserve the testimony of ill or dying witnesses;
(b) To accommodate essential witnesses who are unable or unwilling to travel long distances for a hearing and may not otherwise be required to participate in the hearing;
(c) To expedite large or complex cases;
(d) In cases involving claims of sexual assault, sexual harassment, or statutory employment discrimination, if necessary and consistent with the expedited nature of arbitration; and
(e) If the panel determines that extraordinary circumstances exist.
|Amended by SR-FINRA-2022-012 eff. May 13, 2022.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Adopted by SR-NASD-2004-011 eff. April 16, 2007.
Selected Notice: 07-07, 08-57.