View Whole SectionText only Print Print Manager Link
Previous Next

9160. Recusal or Disqualification

No person shall participate as an Adjudicator in a matter governed by the Code as to which he or she has a conflict of interest or bias, or circumstances otherwise exist where his or her fairness might reasonably be questioned. In any such case the person shall recuse himself or herself, or shall be disqualified as follows:
(a) FINRA Board
The Chair of the FINRA Board shall have authority to order the disqualification of a Governor, and a majority of the FINRA Board excluding the Chair of the FINRA Board, shall have authority to order the disqualification of the Chair;
(b) National Adjudicatory Council, Review Subcommittee, or Certain Subcommittees
The Chair of the National Adjudicatory Council shall have authority to order the disqualification of a member of the National Adjudicatory Council or the Review Subcommittee, a member of a Subcommittee appointed pursuant to Rule 9559(q) or the Rule 9600 Series, a Hearing Panel appointed pursuant to the Rule 9520 Series, and the Statutory Disqualification Committee; and the Vice Chair of the National Adjudicatory Council shall have authority to order the disqualification of the Chair of the National Adjudicatory Council;
(c) Rule 9331 Subcommittee or Extended Proceeding Committee
Disqualification of a Panelist of a Subcommittee or Extended Proceeding Committee appointed under the Rule 9300 Series shall be governed by Rule 9332;
(d) Reserved
(e) Panelist of Hearing Panel or Extended Hearing Panel
Disqualification of a Panelist of a Hearing Panel or Extended Hearing Panel appointed under the Rule 9200 Series shall be governed by Rule 9234; and
(f) Hearing Officer
Disqualification of a Hearing Officer of a Hearing Panel or an Extended Hearing Panel shall be governed by Rule 9233.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Amended by SR-NASD-2003-110 eff. June 28, 2004.
Amended by SR-NASD-2003-74 eff. Dec. 1, 2003.
Amended by SR-NASD-97-81 eff. Jan. 16, 1998.
Adopted by SR-NASD-97-28 eff. Aug. 7, 1997.

Selected Notice: 03-67, 04-36, 08-57.

Previous Next