9221. Request for Hearing
This rule is no longer applicable. NASD Rule 9221 has been superseded by FINRA Rule 9221. Please consult the appropriate FINRA Rule.
(a) Respondent Request for Hearing.
With the filing of any Respondent's answer, such Respondent may:
(1) request a hearing;
(2) propose an appropriate location for the hearing; and
(3) propose, if the complaint alleges at least one cause of action involving a violation of a statute or rule described in Rule 9120(s), that the Chief Hearing Officer select a Market Regulation Committee Panelist for a Hearing Panel or, if applicable, an Extended Hearing Panel as described in Rule 9231.
If a Respondent requests a hearing, a hearing shall be granted. A Respondent who fails to request a hearing with the filing of his or her answer waives the right to a hearing unless a Hearing Officer, Hearing Panel, or, if applicable, an Extended Hearing Panel, grants, for good cause shown, a later filed motion by such Respondent requesting a hearing.
(b) Hearing Officer Order Requiring Hearing
In the absence of a request for a hearing from any Respondent, the Hearing Officer may order any complaint set down for hearing.
(c) Authority of Hearing Panel, Extended Hearing Panel to Order Hearing
If all Respondents waive a hearing, and the Hearing Officer does not order a hearing on his or her own motion, the Hearing Panel or, if applicable, the Extended Hearing Panel, may order a hearing or may consider the matter on the record, as defined in Rule 9267. If fewer than all Respondents waive a hearing, the Hearing Officer, the Hearing Panel, or, if applicable, the Extended Hearing Panel, may, in the exercise of its discretion, order that a hearing be held as to all Respondents. Alternatively, the Hearing Officer, the Hearing Panel, or, if applicable, the Extended Hearing Panel, may conduct a hearing as to only those Respondents who requested a hearing and consider the matter on the record as to those Respondents who waived a hearing.
(d) Notice of Hearing
The Hearing Officer shall issue a notice stating the date, time, and place of the hearing, and whether the hearing shall be held before a Hearing Panel or an Extended Hearing Panel, and shall serve such notice on the Parties at least 28 days before the hearing, unless:
(1) in the discretion of the Hearing Officer, he or she determines that extraordinary circumstances require a shorter notice period; or
(2) the Parties waive the notice period.
Amended by SR-NASD-97-81 eff. Jan. 16, 1998.
Amended by SR-NASD-97-28 eff. Aug. 7, 1997.
Amended eff. Apr. 15, 1987.