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13903. Process Fees Paid by Members

The Industry Code applies to claims filed on or after April 16, 2007. In addition, the list selection provisions of the Industry 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) 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 13403(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 13600, as set forth in the schedule below.
Hearing Process Fee Schedule

Amount of Claim
(exclusive of interest
and expenses)
Hearing Process Fee
$1–$25,000 $0
$25,000.01–$50,000 $1,000
$50,000.01–$100,000 $1,700
$100,000.01–$500,000 $2,750
$500,000.01–$1,000,000 $4,000
$1,000,000.01–$5,000,000 $5,000
More than $5,000,000 $5,500
Non-Monetary/Not Specified $2,200
(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-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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