13511. Discovery Sanctions

This rule is no longer applicable. NASD Rule 13511 has been superseded by FINRA Rule 13511. 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) Failure to cooperate in the exchange of documents and information as required under the Code may result in sanctions. The panel may issue sanctions against any party in accordance with Rule 13212(a) for:
  • Failing to comply with the discovery provisions of the Code, unless the panel determines that there is substantial justification for the failure to comply; or

  • Frivolously objecting to the production of requested documents or information.
(b) The panel may dismiss a claim, defense or proceeding with prejudice in accordance with Rule 13212(c) for intentional and material failure to comply with a discovery order of the panel if prior warnings or sanctions have proven ineffective.
Adopted by SR-NASD-2004-011 eff. April 16, 2007.

Selected Notices: 07-07

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