FINRA Manual: Contents
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13000. CODE OF ARBITRATION PROCEDURE FOR INDUSTRY DISPUTES
PART II GENERAL ARBITRATION RULES
13201. Statutory Employment Discrimination Claims and Disputes Arising Under a Whistleblower Statute that Prohibits the Use of Predispute Arbitration Agreements
PART VIII SIMPLIFIED ARBITRATION; DEFAULT PROCEEDINGS; STATUTORY EMPLOYMENT DISCRIMINATION CLAIMS; AND INJUNCTIVE RELIEF
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13214. Payment of Arbitrators
(a) Except as provided in paragraph (b), Rule 13800, and Rule 13806(f), FINRA will pay the panel an honorarium, as follows:
• $200 to each arbitrator for each hearing session in which he or she participates;
• an additional $75 per day to the chairperson for each hearing on the merits;
• $50 for travel to a hearing session that is postponed pursuant to Rule 13601; and
• $100 for each arbitrator if a hearing session other than a prehearing conference is postponed within three business days before a scheduled hearing session pursuant to Rules 13601(a)(2) and (b)(2).
(b) The Director may authorize a higher or additional honorarium for the use of a foreign hearing location.
(c) Payment for Deciding Discovery-Related Motions Without a Hearing Session
(1) FINRA will pay each arbitrator an honorarium of $200 to decide a discovery-related motion without a hearing session. This paragraph does not apply to cases administered under Rule 13800 or pursuant to Rule 13806(d)(1).
(2) For purposes of paragraph (c)(1), a discovery-related motion and any replies or other correspondence relating to the motion shall be considered to be a single motion.
(3) The panel will allocate the cost of the honoraria under paragraph (c)(1) to the parties pursuant to Rule 13902(c).
(d) Payment for Deciding Contested Subpoena Requests Without a Hearing Session
(1) The honorarium for deciding one or more contested motions requesting the issuance of a subpoena without a hearing session shall be $200. The honorarium shall be paid on a per case basis to each arbitrator who decides the contested motion(s). The parties shall not be assessed more than $600 in fees under this paragraph in any arbitration proceeding. The honorarium shall not be paid for cases administered under Rule 13800 or pursuant to Rule 13806(d)(1).
(2) For purposes of paragraph (d)(1), a contested motion requesting the issuance of a subpoena shall include a motion requesting the issuance of a subpoena, the draft subpoena, a written objection from the party opposing the issuance of the subpoena, and any other documents supporting a party's position.
(3) The panel will allocate the cost of the honorarium under paragraph (d)(1) to the parties pursuant to Rule 13902(c).
(e) Payment for Explained Decisions
(1) The chairperson who is responsible for writing an explained decision pursuant to Rule 13904(g) will receive an additional honorarium of $400. The panel will allocate the cost of the honorarium under Rule 13904(g) to the parties.
(2) If the panel decides on its own to write an explained decision, then no panel member will receive the additional honorarium of $400.
Amended by SR-FINRA-2009-015 eff. Sep. 14, 2009.
Amended by SR-FINRA-2008-051 eff. Apr. 13, 2009.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Paragraph (d) Adopted by SR-NASD-2006-101 eff. April 2, 2007.
Paragraphs (a) through (c) adopted by SR-NASD-2003-158 eff. April 16, 2007.
Selected Notice: 07-07, 08-57, 09-16, 09-48.