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12306. Answering Third Party Claims

This version is valid from Feb 9 2009 through Apr 2 2017.
Amendments have been announced but are not yet effective. To view other versions open the versions tab on the right.

(a) A party responding to a third party claim must directly serve all other parties with the following documents within 45 days of receipt of the third party claim:
•  Signed and dated Submission Agreement; and
•  An answer specifying the relevant facts and available defenses to the third party claim.
The respondent may include any additional documents supporting the answer to the third party claim.
(b) The answer to the third party claim may also include any counterclaims, cross claims, or third party claims, specifying all relevant facts and remedies requested. The answer may also include any additional documents supporting such claim. When serving a third party claim, the respondent must provide each new respondent with copies of all documents previously served by any party, or sent to the parties by the Director.
(c) At the same time that the answer to the third party claim is served on the other parties, the third party respondent must also file copies of the Submission Agreement, the answer to the third party claim, and any additional documents, with the Director, with additional copies for each arbitrator.
(d) If the answer to the third party claim contains any counterclaim, cross claim or third party claim, the party must also pay all required filing fees.
Amended by SR-FINRA-2008-031. eff. Feb. 9, 2009.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Adopted by SR-NASD-2003-158 eff. April 16, 2007.

Selected Notice: 07-07, 08-57, 09-04.

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