13402. Composition of Arbitration Panels in Cases Not Involving a Statutory Discrimination Claim

This rule is no longer applicable. NASD Rule 13402 has been superseded by FINRA Rule 13402. 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.

For disputes involving statutory employment discrimination claims, see Rule 13802.

(a) Disputes Between Members, or Employment Disputes Between or Among Member Firms and Associated Persons Relating Exclusively To Employment Contracts, Promissory Notes, or Receipt of Commissions
  • If the panel consists of one arbitrator, the arbitrator will be a non-public arbitrator selected from the chairperson roster described in Rule 13400(c), unless the parties agree in writing otherwise.

  • If the panel consists of three arbitrators, all will be non-public arbitrators. One of the arbitrators will be selected from the chairperson roster described in Rule 13400(c), unless the parties agree in writing otherwise.
(b) Other Disputes Between or Among Members and Associated Persons
  • If the panel consists of one arbitrator, the arbitrator will be a public arbitrator selected from the chairperson roster described in Rule 12400(c) of the Code of Arbitration Procedure for Customer Disputes, unless the parties agree in writing otherwise.

  • If the panel consists of three arbitrators, one will be a non-public arbitrator and two will be public arbitrators. One of the public arbitrators will be selected from the chairperson roster described in Rule 12400(c) of the Code of Arbitration Procedure for Customer Disputes, unless the parties agree in writing otherwise.
Adopted by SR-NASD-2004-011 eff. April 16, 2007.

Selected Notices: 07-07

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