10212. Composition of Panels

This rule is no longer applicable. NASD Rule 10212 has been superseded by FINRA Rule 10212. Please consult the appropriate FINRA Rule.

This Code will be superseded by the Customer Code (Rule 12000 Series) and the Industry Code (Rule 13000 Series) on April 16, 2007, for claims filed on or after that date. This Code will remain in effect, however, for cases filed before April 16, 2007.

For disputes involving a claim alleging employment discrimination, including a sexual harassment claim, in violation of a statute:

(a) Each panel shall consist of either a single public arbitrator or three public arbitrators qualified under Rule 10211, unless the parties agree to a different panel composition.

(b) A single arbitrator shall be appointed to hear claims for $100,000 or less.

(c) A panel of three arbitrators shall be appointed to hear claims for more than $100,000, unless the parties agree to have their case determined by a single arbitrator.

Adopted by SR-NASD-99-08 eff. Jan. 18, 2000.

Selected Notice: 99-96.