The parties must cooperate to the fullest extent practicable in the exchange of documents and information to expedite the arbitration.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Adopted by SR-NASD-2004-011 eff. April 16, 2007.Selected Notices: 07-07, 08-57.
All rulings and determinations of the panel must be made by a majority of the arbitrators, unless the parties agree, or the Code or applicable law provides, otherwise.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Adopted by SR-NASD-2004-011 eff. April 16, 2007.Selected Notices: 07-07, 08-57.
The panel has the authority to interpret and determine the applicability of all provisions under the Code. Such interpretations are final and binding upon the parties.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Adopted by SR-NASD-2004-011 eff. April 16, 2007.Selected Notices: 07-07, 08-57.
(a) If an arbitrator is removed, or becomes otherwise unable or unwilling to serve, the Director will appoint a replacement arbitrator in accordance with this rule, unless the parties agree in writing to proceed with only the remaining arbitrators.(b) The Director will appoint as a replacement arbitrator the arbitrator who is the most highly ranked available arbitrator of the required
(a) Before First Hearing Session BeginsAfter the Director sends the lists generated by the list selection algorithm to the parties, but before the first hearing session begins, the Director may remove an arbitrator for conflict of interest or bias, either upon request of a party or on the Director's own initiative.(1) The Director will grant a party's request to remove an
For disputes involving statutory employment discrimination claims, sexual assault claims, and sexual harassment claims, see Rule 13802.(a) Appointment of Arbitrators in Disputes Between Members(1) If the panel consists of one arbitrator, the Director will appoint the highest-ranked available arbitrator from the combined non-public chairperson list.(2) If the panel consists of three arbitrators,
(a) Claims of $50,000 or Less
If the amount of a claim is $50,000 or less, exclusive of interest and expenses, the panel will consist of one arbitrator and the claim is subject to the simplified arbitration procedures under Rule 13800.
(b) Claims of More Than $50,000 Up To $100,000
If the amount of a claim is more than $50,000 but not more than $100,000, exclusive of interest and
(a) If a party does not answer within the time period specified in the Code, the panel may, upon motion, bar that party from presenting any defenses or facts at the hearing, unless the time to answer was extended in accordance with the Code. The party may also be subject to default proceedings under Rule 13801, if the conditions of Rule 13801(a) apply.
(b) If a party answers a claim that
(a) Respondent(s) must serve each other party with the following documents within 45 days of receipt of the statement of claim:
(1) Signed and dated Submission Agreement; and
(2) An answer specifying the relevant facts and available defenses to the statement of claim.
The respondent may include any additional documents supporting the answer to the statement of claim. Parties that fail to
