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13507. Responding to Discovery Requests

This rule is no longer applicable. NASD Rule 13507 has been superseded by FINRA Rule 13507. Please consult the appropriate FINRA Rule.

The Industry Code will apply to claims filed on or after April 16, 2007. In addition, the list selection provisions of the Industry 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) Unless the parties agree otherwise, within 60 days from the date a discovery request is received, the party receiving the request must either:
  • Produce the requested documents or information to all other parties;

  • Identify and explain the reason that specific requested documents or information cannot be produced within the required time, and state when the documents will be produced; or

  • Object as provided in Rule 13508.
(b) A party must act in good faith when complying with paragraph (a) 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) 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-2004-011 eff. April 16, 2007.

Selected Notices: 07-07

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