For disputes involving statutory employment discrimination claims, sexual assault claims, and sexual harassment claims, see Rule 13802.
(a) Appointment of Arbitrators in Disputes Between Members
(1) If the panel consists of one arbitrator, the Director will appoint the highest-ranked available arbitrator from the combined non-public chairperson list.
(2) If the panel consists of three
For each arbitrator classification (public, non-public, and chairperson), the Director will prepare combined ranked lists of arbitrators based on the parties' numerical rankings, as follows:
• The Director will add the rankings of all claimants together, and the rankings of all respondents together, to produce separate combined ranked lists for the claimants and the respondents
(a) Except for lists generated pursuant to Rule 13403(a)(2), each separately represented party may strike up to four of the arbitrators from each list for any reason by crossing through the names of the arbitrators. At least six names must remain on each list.
(b) For lists generated pursuant to Rule 13403(a)(2), each separately represented party may strike up to eight of the arbitrators
For disputes involving statutory employment discrimination claims, see Rule 13802.
(a) Disputes Between Members
(1) In an arbitration between members, the panel composition will be as follows:
• 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
(a) Claims of $50,000 or Less
If the amount of a claim is $50,000 or less, exclusive of interest and expenses, the panel will consist of one arbitrator and the claim is subject to the simplified arbitration procedures under Rule 13800.
(b) Claims of More Than $50,000 Up To $100,000
If the amount of a claim is more than $50,000 but not more than $100,000, exclusive of interest and
(a) List Selection Algorithm
FINRA uses a list selection algorithm that generates, on a random basis, lists of arbitrators from FINRA's rosters of arbitrators for the selected hearing location for each proceeding. The parties will select their panel through a process of striking and ranking the arbitrators on lists generated by the list selection algorithm.
(b) Arbitrator Rosters
FINRA
(a) One or more parties may name one or more respondents in the same arbitration if the claims contain any questions of law or fact common to all respondents and:
• The claims are asserted against the respondents jointly and severally; or
• The claims arise out of the same transaction or occurrence, or series of transactions or occurrences.
(b) After all responsive pleadings have
(a) One or more parties may join multiple claims together in the same arbitration if the claims contain common questions of law or fact and:
• The claims assert any right to relief jointly and severally; or
• The claims arise out of the same transaction or occurrence, or series of transactions or occurrences.
(b) After all responsive pleadings have been served, claims joined
If an amended pleading increases the amount in dispute, all filing fees, surcharges and process fees required by the Code will be recalculated based on the new amount in dispute.
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.
