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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12400. Neutral List Selection System and Arbitrator Rosters
This version is valid from Jan 9 2017 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) Neutral List Selection System
The Neutral List Selection System is a computer system that generates, on a random basis, lists of arbitrators from FINRA's rosters of arbitrators for the selected hearing location for each proceeding. The parties will select their panel through a process of striking and ranking the arbitrators on lists generated by the Neutral List Selection System.
(b) Arbitrator Rosters
FINRA maintains the following roster of arbitrators:
(1) A roster of non-public arbitrators as defined in Rule 12100(p);
(2) A roster of public arbitrators as defined in Rule 12100(u); and
(3) A roster of arbitrators who are eligible to serve as chairperson of a panel as described in paragraph (c). Arbitrators who are eligible to serve as chairperson will also be included in the roster of public arbitrators, but will only appear on one list in a case.
(c) Eligibility for Chairperson Roster
In customer disputes, chairpersons must be public arbitrators. Arbitrators are eligible for the chairperson roster if they have completed chairperson training provided by FINRA and:
(1) Have a law degree and are a member of a bar of at least one jurisdiction and have served as an arbitrator through award on at least one arbitration administered by a self-regulatory organization in which hearings were held; or
(2) Have served as an arbitrator through award on at least three arbitrations administered by a self-regulatory organization in which hearings were held.
Amended by SR-FINRA-2016-033 eff. Jan. 9, 2017.
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, 17-04.