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12000. CODE OF ARBITRATION PROCEDURE FOR CUSTOMER DISPUTES
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12903. Process Fees Paid by Members
(a) Each member that is a party to an arbitration in which more than $25,000, exclusive of interest and expenses, is in dispute must pay:
• A non-refundable prehearing process fee of $750, due at the time the parties are sent arbitrator lists in accordance with Rule 12402(c) or Rule 12403(b); and
• A non-refundable hearing process fee, due when the parties are notified of the date and location of the hearing on the merits under Rule 12600, as set forth in the schedule below.
Hearing Process Fee Schedule
Amount of Claim
(exclusive of interest and expenses)
|Hearing Process Fee|
|More than $5,000,000||$5,500|
(b) If an associated person of a member is a party, the member that employed the associated person at the time the dispute arose will be charged the process fees, even if the member is not a party. No member shall be assessed more than one prehearing and one hearing process fee in any arbitration.
(c) The panel may not reallocate to any other party any prehearing and hearing process fees paid by a member.
Amended by SR-FINRA-2013-023 eff. Sep. 30, 2013.
Amended by SR-FINRA-2011-007 eff. Feb. 16, 2011.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Adopted by SR-NASD-2003-158 eff. April 16, 2007.
Selected Notice: 07-07, 08-57, 13-30.