Skip to main content

For updates and guidance related to COVID-19 / Coronavirus, click here.

13214. Payment of Arbitrators

This rule is no longer applicable. NASD Rule 13214 has been superseded by FINRA Rule 13214. Please consult the appropriate FINRA Rule.

The Industry Code will apply to claims filed on or after April 16, 2007. In addition, the list selection provisions of the Industry Code will apply to previously filed claims in which a list of arbitrators must be generated after April 16, 2007; in these cases, however, the claim will continue to be governed by the remaining provisions of the old Code unless all parties agree to proceed under the new code.

(a) Except as provided in paragraph (b) and Rule 13800, NASD will pay the panel an honorarium, as follows:
  • $200 to each arbitrator for each hearing session in which he or she participates;
  • an additional $75 per day to the chairperson for each hearing on the merits;
  • $50 for travel to a hearing session that is postponed pursuant to Rule 13601; and
  • $100 for each arbitrator if a hearing session other than a prehearing conference is postponed within three business days before a scheduled hearing session pursuant to Rules 13601(a)(2) and (b)(2).
(b) The Director may authorize a higher or additional honorarium for the use of a foreign hearing location.
(c) Payment for Deciding Discovery-Related Motions Without a Hearing Session
(1) NASD will pay each arbitrator an honorarium of $200 to decide a discovery-related motion without a hearing session. This paragraph does not apply to cases administered under Rule 13800.
(2) For purposes of paragraph (c)(1), a discovery-related motion and any replies or other correspondence relating to the motion shall be considered to be a single motion.
(3) The panel will allocate the cost of the honoraria under paragraph (c)(1) to the parties pursuant to Rule 13902(c).
(d) Payment for Deciding Contested Subpoena Requests Without a Hearing Session
* This paragraph (d) becomes effective on April 2, 2007.*
(1) The honorarium for deciding one or more contested motions requesting the issuance of a subpoena without a hearing session shall be $200. The honorarium shall be paid on a per case basis to each arbitrator who decides the contested motion(s). The parties shall not be assessed more than $600 in fees under this paragraph in any arbitration proceeding. The honorarium shall not be paid for cases administered under Rule 13800.
(2) For purposes of paragraph (d)(1), a contested motion requesting the issuance of a subpoena shall include a motion requesting the issuance of a subpoena, the draft subpoena, a written objection from the party opposing the issuance of the subpoena, and any other documents supporting a party's position.
(3) The panel will allocate the cost of the honorarium under paragraph (d)(1) to the parties pursuant to Rule 13902(c).
Paragraph (d) Adopted by SR-NASD-2006-101 eff. April 2, 2007.
Paragraphs (a) through (c) adopted by SR-NASD-2004-011 eff. April 16, 2007.

Selected Notices: 07-07

No Results Found

No Results Found

No Results Found

No Results Found