FINRA Manual: Contents
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12000. CODE OF ARBITRATION PROCEDURE FOR CUSTOMER DISPUTES
PART IV APPOINTMENT, DISQUALIFICATION, AND AUTHORITY OF ARBITRATORS
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12401. Number of 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 12800.
(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 expenses, the panel will consist of one arbitrator unless the parties agree in writing to three arbitrators.
(c) Claims of More Than $100,000; Unspecified or Non-Monetary Claims
If the amount of a claim is more than $100,000, exclusive of interest and expenses, or is unspecified, or if the claim does not request money damages, the panel will consist of three arbitrators, unless the parties agree in writing to one arbitrator.
Amended by SR-FINRA-2012-012 eff. July 23, 2012.
Amended by SR-FINRA-2008-047 eff. March 30, 2009.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Adopted by SR-NASD-2003-158 eff. April 16, 2007.
Selected Notices: 07-07, 08-57, 09-13, 12-30.