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Location: FINRA Manual > FINRA Rules > 12000. CODE OF ARBITRATION PROCEDURE FOR CUSTOMER DISPUTES

Notices
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07-07 SEC Approves Revision of Customer and Industry Portions of NASD Code of Arbitration Procedure; Effective Date: April 16, 2007

12000. CODE OF ARBITRATION PROCEDURE FOR CUSTOMER DISPUTES

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Contents:

PART I INTERPRETIVE MATERIAL, DEFINITIONS, ORGANIZATION AND AUTHORITY

IM-12000. Failure to Act Under Provisions of Code of Arbitration Procedure for Customer Disputes

12100. Definitions

12101. Applicability of Code and Incorporation by Reference

12102. National Arbitration and Mediation Committee

12103. Director of Dispute Resolution

12104. Effect of Arbitration on FINRA Regulatory Activities

12105. Agreement of the Parties

PART II GENERAL ARBITRATION RULES

12200. Arbitration Under an Arbitration Agreement or the Rules of FINRA

12201. Elective Arbitration

12202. Claims Against Inactive Members

12203. Denial of FINRA Forum

12204. Class Action Claims

12205. Shareholder Derivative Actions

12206. Time Limits

12207. Extension of Deadlines

12208. Representation of Parties

12209. Legal Proceedings

12210. Ex Parte Communications

12211. Direct Communication Between Parties and Arbitrators

12212. Sanctions

12213. Hearing Locations

12214. Payment of Arbitrators

PART III INITIATING AND RESPONDING TO CLAIMS

12300. Filing and Serving Documents

12301. Service on Associated Persons

12302. Filing an Initial Statement of Claim

12303. Answering the Statement of Claim

12304. Answering Counterclaims

12305. Answering Cross Claims

12306. Answering Third Party Claims

12307. Deficient Claims

12308. Loss of Defenses Due to Untimely or Incomplete Answer

12309. Amending Pleadings

12310. Answering Amended Claims

12311. Amendments to Amount in Dispute

12312. Multiple Claimants

12313. Multiple Respondents

12314. Combining Claims

PART IV APPOINTMENT, DISQUALIFICATION, AND AUTHORITY OF ARBITRATORS

12400. Neutral List Selection System and Arbitrator Rosters

12401. Number of Arbitrators

12402. Cases with One Arbitrator

12403. Cases with Three Arbitrators

12404. Additional Parties

12405. Disclosures Required of Arbitrators

12406. Arbitrator Recusal

12407. Removal of Arbitrator by Director

12408. Director's Discretionary Authority

12409. Jurisdiction of Panel and Authority to Interpret the Code

12410. Determinations of Arbitration Panel

PART V PREHEARING PROCEDURES AND DISCOVERY

12500. Initial Prehearing Conference

12501. Other Prehearing Conferences

12502. Recording Prehearing Conferences

12504. Motions to Dismiss

12505. Cooperation of Parties in Discovery

12506. Document Production Lists

12507. Other Discovery Requests

12508. Objecting to Discovery; Waiver of Objection

12509. Motions to Compel Discovery

12510. Depositions

12511. Discovery Sanctions

12512. Subpoenas

12513. Authority of Panel to Direct Appearances of Associated Person Witnesses and Production of Documents Without Subpoenas

12514. Prehearing Exchange of Documents and Witness Lists, and Explained Decision Requests

PART VI HEARINGS; EVIDENCE; CLOSING THE RECORD

12600. Required Hearings

12601. Postponement of Hearings

12602. Attendance at Hearings

12603. Failure to Appear

12604. Evidence

12605. Witness Oath

12606. Record of Proceedings

12607. Order of Presentation of Evidence and Arguments

12608. Closing the Record

12609. Reopening the Record

PART VII TERMINATION OF AN ARBITRATION BEFORE AWARD

12700. Dismissal of Proceedings Prior to Award

12701. Settlement

12702. Withdrawal of Claims

PART VIII SIMPLIFIED ARBITRATION AND DEFAULT PROCEEDINGS

12800. Simplified Arbitration

12801. Default Proceedings

12805. Expungement of Customer Dispute Information under Rule 2080

PART IX FEES AND AWARDS

12900. Fees Due When a Claim Is Filed

12901. Member Surcharge

12902. Hearing Session Fees, and Other Costs and Expenses

12903. Process Fees Paid by Members

12905. Submissions After a Case Has Closed