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Location: FINRA Manual > FINRA Rules > 12000. CODE OF ARBITRATION PROCEDURE FOR CUSTOMER DISPUTES > PART III INITIATING AND RESPONDING TO CLAIMS > 12302. Filing an Initial Statement of Claim

Versions
(3 versions)

Dec 15 2008 - Feb 8 2009 Feb 9 2009 - Sep 26 2010

Sep 27 2010 onwards

Notices
(3 links)

09-04 SEC Approves Proposed Rule Change to Amend the Submission Agreement and Related Rules in the Arbitration Codes for Customer and Industry Disputes; Effective Date: February 9, 2009

08-57 FINRA Announces SEC Approval and Effective Date for New Consolidated FINRA Rules Effective Date: December 15, 2008

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

12302. Filing an Initial Statement of Claim

The Customer Code applies to claims filed on or after April 16, 2007. In addition, the list selection provisions of the Customer Code apply to previously filed claims in which a list of arbitrators must be generated after April 16, 2007; in these cases, however, the claim will continue to be governed by the remaining provisions of the old Code unless all parties agree to proceed under the new Code.

(a) Filing Claim with the Director

To initiate an arbitration, a claimant must file the following with the Director:

• Signed and dated Submission Agreement; and

• A statement of claim specifying the relevant facts and remedies requested.

The claimant may include any additional documents supporting the statement of claim. The claimant may file the documents: (1) in hard copy; or (2) electronically through the Online Arbitration Claim Filing system that can be accessed at www.finra.org.

(b) Number of Copies

If not submitted electronically, the claimant must file enough copies of the statement of claim, and the signed Submission Agreement, and any additional materials, for the Director, each arbitrator and each other party.

(c) Fees

At the time the statement of claim is filed, the claimant must pay all required filing fees.

(d) Service by Director

Unless the statement of claim is deficient under Rule 12307, the Director will send a copy of the Submission Agreement, the statement of claim, and any additional materials filed by the claimant, to each other party, and to each arbitrator once the panel has been appointed.

Amended by SR-FINRA-2010-050 eff. Sep. 27, 2010.
Amended by SR-FINRA-2008-031 eff. Feb. 9, 2009.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Amended by SR-FINRA-2007-042 eff. Dec. 27, 2007.
Adopted by SR-NASD-2003-158 eff. April 16, 2007.

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