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13510. Depositions

Depositions are strongly discouraged in arbitration. Upon motion of a party, the panel may permit depositions, but only under very limited circumstances, including:
•  To preserve the testimony of ill or dying witnesses;
•  To accommodate essential witnesses who are unable or unwilling to travel long distances for a hearing and may not otherwise be required to participate in the hearing;
•  To expedite large or complex cases;
•  In cases involving claims of statutory employment discrimination, if necessary and consistent with the expedited nature of arbitration; and
•  If the panel determines that extraordinary circumstances exist.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Adopted by SR-NASD-2004-011 eff. April 16, 2007.

Selected Notice: 07-07, 08-57.

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