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13903. 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 non-refundable process fee, due at the time the parties are sent arbitrator lists in accordance with Rule 13403(b), as set forth in the schedule below.
Process Fee Schedule
|Amount of Claim
(exclusive of interest
(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 pursuant to Rule 13302, the process fee shall be the Non-Monetary/Not Specified fee under Rule 13903(a). If the associated person adds a monetary claim to the expungement request, the process fee shall be the Non-Monetary/Not Specified fee or the applicable surcharge provided in Rule 13903(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-2008-021 eff. Dec. 15, 2008.
Adopted by SR-NASD-2004-011 eff. April 16, 2007.
Selected Notice: 07-07, 08-57, 14-49, 20-25.