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13304. Answering Counterclaims

This rule is no longer applicable. NASD Rule 13304 has been superseded by FINRA Rule 13304. 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) A claimant must directly serve any answer to a counterclaim on each other party within 20 days of receipt of the counterclaim. At the same time, the claimant must file the answer to the counterclaim with the Director with additional copies for each arbitrator.
(b) The answer must include the relevant facts and available defenses to the counterclaim. The claimant may include any additional documents supporting the answer to the counterclaim.
Adopted by SR-NASD-2004-011 eff. April 16, 2007.

Selected Notices: 07-07

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