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13606. Record of Proceedings

(a) Digital or Other Recording

(1) Except as provided in paragraph (b) of this Rule, the Director will make a digital or other recording of every hearing. Executive sessions (i.e., discussions among arbitrators outside the presence of the parties, their representatives, witnesses, and stenographers) held by the panel will not be recorded. The Director will provide a copy of the recording to any party upon request.
(2) The panel may order the parties to provide a transcription of the recording. If the panel orders a transcription, copies of the transcription must be provided to each arbitrator, served on each party, and filed with the Director pursuant to Rule 13300 by the party or parties ordered to make the transcription. The panel will determine which party or parties must pay the cost of making the transcription and copies.
(3) The recording is the official record of the proceeding, even if it is transcribed.

(b) Stenographic Record

(1) Any party may make a stenographic record of the hearing. Even if a stenographic record is made, the digital or other recording will be the official record of the proceeding, unless the panel determines otherwise. If the panel determines in advance that the stenographic record will be the official record, the Director will not record the hearing.
(2) If the stenographic record is the official record of the proceeding, a copy must be provided by the party or parties that elected to make the stenographic record to each arbitrator, served on each other party, and filed with the Director pursuant to Rule 13300 in an electronic format. The cost of making and copying the stenographic record will be borne by the party electing to make the stenographic record, unless the panel decides that one or more other parties should bear all or part of the costs.

(c) Copies of Recordings and Transcriptions of Expungement Hearings

The Director will provide a copy of the official record of an expungement hearing held pursuant to Rule 13805, and any transcription if the recording is transcribed, to any customers, upon request, who attend and participate in the expungement hearing, or who provide their position on the expungement request in writing.

Amended by SR-FINRA-2024-018 eff. Dec. 1, 2024.
Amended by SR-FINRA-2022-033 eff. March 4, 2024.
Amended by SR-FINRA-2016-029 eff. April 3, 2017.
Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008.
Adopted by SR-NASD-2004-011 eff. April 16, 2007.

Selected Notices: 07-07, 08-57, 17-03, 24-03.

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