IM-10317. Closing Arguments

This Code was superseded by the Customer Code (FINRA Rule 12000 Series) and the Industry Code (FINRA Rule 13000 Series) on April 16, 2007, for claims filed on or after that date.

In response to recent questions concerning the order of closing argument in arbitration proceedings conducted under the auspices of the National Association of Securities Dealers, Inc., it is the practice in these proceedings to allow claimants to proceed first in closing argument, with rebuttal argument being permitted. Claimants may reserve their entire closing for rebuttal. The hearing procedures may, however, be varied in the discretion of the arbitrators, provided all parties are allowed a full and fair opportunity to present their respective cases.