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12506. Document Production Lists

This rule is no longer applicable. NASD Rule 12506 has been superseded by FINRA Rule 12506. Please consult the appropriate FINRA Rule.

The Customer Code will apply to claims filed on or after April 16, 2007. In addition, the list selection provisions of the Customer Code will 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) Applicability of Document Production Lists
When the Director serves the statement of claim, the Director will provide the NASD Discovery Guide and Document Production Lists to the parties. Document Production Lists 1 and 2 describe the documents that are presumed to be discoverable in all arbitrations between a customer and a member or associated person. Other Document Production Lists may also apply, depending on the specific cause(s) of action alleged.
(b) Time for Responding to Document Production Lists
(1) Unless the parties agree otherwise, within 60 days of the date that the answer to the statement of claim is due, or, for parties added by amendment or third party claim, within 60 days of the date that their answer is due, parties must either:
•  Produce to all other parties all documents in their possession or control that are described in the Document Production Lists 1 and 2, and any other Document Production List that is applicable based on the cause(s) of action alleged;
•  Identify and explain the reason that specific documents described in Document Production Lists 1 and 2, and any other Document Production List that is applicable based on the cause(s) of action alleged, cannot be produced within the required time, and state when the documents will be produced; or
•  Object as provided in Rule 12508.
(2) A party must act in good faith when complying with subparagraph (1) of this rule. "Good faith" means that a party must use its best efforts to produce all documents required or agreed to be produced. If a document cannot be produced in the required time, a party must establish a reasonable timeframe to produce the document.
(c) Redacted Information
For purposes of this rule and Rule 12507, if a party redacts any portion of a document prior to production, the redacted pages (or range of pages) shall be labeled "redacted."
Adopted by SR-NASD-2003-158 eff. April 16, 2007.

Selected Notices: 07-07

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