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Regulation
FINRA Rule Filings to Amend NASD Code of Arbitration
Pursuant to BATS Exchange Rule 9.1, "[t]he 12000 and 13000 Series of FINRA's NASD Manual, the NASD Code of Arbitration Procedure for Customer and Industry Disputes, respectively ("NASD Code of Arbitration"), as the same may be in effect from time to time, shall govern Exchange Arbitrations except as may be specified in . . . Chapter IX. For purposes of Exchange arbitrations, defined terms used in . . . Chapter IX and not otherwise defined . . . [in Chapter IX] shall have the same meaning as those prescribed in the NASD Code of Arbitration, and procedures contained in the NASD Code of Arbitration shall have the same application as toward Exchange arbitrations."
As a result of BATS Exchange Rule 9.1, changes to the NASD Code of Arbitration could have an impact on arbitrations conducted under the BATS Exchange rules. Accordingly, below are links to pending FINRA rule filings with the SEC seeking to amend the NASD Code of Arbitration as well as any SEC orders approving or disapproving those FINRA rule filings.
- Text of Proposed Rule Change
Proposed Rule Change to Adopt Rule 12805 of the NASD Code of Arbitration Procedure for Customer Disputes and Rule 13805 of the NASD Code of Arbitration Procedure for Industry Disputes as FINRA Rules into a Consolidated Rulebook.
- Text of Proposed Rule Change
Proposed Rule Change to Amend Rules 12214, 12514 and 12904 of the Code of Arbitration Procedure for Customer Disputes and Rules 13214, 13514 and 13904 of the Code of Arbitration Procedure for Industry Disputes to Require Arbitrators to Provide an Explained Decision upon the Joint Request of the Parties.
- Text of Proposed Rule Change
Proposed Rule Change to Amend Rule 12401 of the Customer Code and Rule 13401 of the Industry Code to Raise the Amount in Controversy Heard by a Single Chair-qualified Arbitrator to $100,000
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