Proposed Rule

2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996

PROPOSED AMENDMENTS
(additions are underlined and deletions are stricken through)

CODE OF ARBITRATION

* * *

SECTION 7. RIGHT TO COUNSEL.

(a) A party may be represented at any time throughout the arbitration proceeding, including a mediation proceeding, by an attorney-at-law licensed to practice law in the highest court of any state, by a family member or other person who is representing the party without compensation and who does not have an interest in the outcome of the proceeding, or by an officer, partner or employee of the party. The attorney or other representative shall serve timely notice in writing on NFA and the other parties of the name and address of any such representative. The Panel may bar from the proceeding any representative for dilatory, disruptive or contumacious conduct.

* * *

SECTION 8. PRE-HEARING.

* * *

(e) Other Pre-Hearing Motions.

* * *

(3) NFA shall assess a motion fee as follows:

    (i) In cases involving one arbitrator, a party filing a motion shall include a $125 motion fee for each motion filed more than 80 days after the last pleading is due. This fee may be subsequently waived at the discretion of the arbitrator, or the arbitrator may assess the motion fee against the party causing the filing of the motion. However, this fee shall not apply to a request for a preliminary hearing under Section 9(a) or a request for a postponement under Section 11(c) below.

    (ii) In cases involving three arbitrators, any party filing a motion shall include a $425 motion fee for each motion filed more than 100 days after the last pleading is due. This fee may be subsequently waived at the discretion of the arbitrators, or the arbitrators may assess the motion fee against the party causing the filing of the motion. However, this fee shall not apply to a request for a preliminary hearing under Section 9(a) or a request for a postponement under Section 11(c) below.

* * *

(h) Depositions.

The Panel may, upon the motion of a party, order evidence depositions for good cause shown.

SECTION 9. HEARING.

* * *

(b) Place, Time and Notice of Hearing.

Except as provided in Section 8(g) or pParagraph (i) of this sSection, the place and time of the hearing shall be determined in the sole discretion of the Secretary, who shall endeavor to accommodate, if possible, the preferences of all parties as indicated in a timely-filed pleading and members of the Panel. Upon setting the initial hearing date, NFA shall serve notice on each party at least 45 days before the hearing of the date, time and place. NFA shall give reasonable notice of any rescheduled hearing date.

* * *

(d) Procedure.

* * *

(7) The Panel may order Members and employees thereof, and Associates to testify and produce documentary evidence. The Panel may issue subpoenas to non-Members as authorized by law. The parties must submit all subpoena requests to the Panel and serve those requests in accordance with Section 16(b) below. Subpoenas issued by the Panel may be enforced in a court of competent jurisdiction.

* * *

SECTION 10. AWARD, SETTLEMENT AND WITHDRAWAL.

(a) Issuance of Award.

The Panel shall notify NFA of its decision Wwithin 30 days after the record is closed. , the Panel shall render its award, in writing, NFA shall then prepare a written award form, to be dated and signed by the Panel members., which shall be delivered to NFA, who shall promptly serve a copy of the award on each party or its representative either personally or by certified mail. The award shall be that of the Panel majority.

* * *

MEMBER ARBITRATION RULES

* * *

SECTION 6. RIGHT TO COUNSEL.

(a) A party may be represented at any time throughout the arbitration proceeding, including a mediation proceeding, by an attorney-at-law licensed to practice law in the highest court of any state, by a family member or other person who is representing the party without compensation and who does not have an interest in the outcome of the proceeding, or by an officer, partner or employee of the party. The attorney or other representative shall serve timely notice in writing on NFA and the other parties of the name and address of any such representative. The Panel may bar from the proceeding any representative for dilatory, disruptive or contumacious conduct.

* * *

SECTION 7. PRE-HEARING.

* * *

(f) Other Pre-Hearing Motions.

* * *

(3) NFA shall assess a motion fee as follows:

    (i) In cases involving one arbitrator, a party filing a motion shall include a $125 motion fee for each motion filed more than 80 days after the last pleading is due. This fee may be subsequently waived at the discretion of the arbitrator, or the arbitrator may assess the motion fee against the party causing the filing of the motion. However, this fee shall not apply to a request for a preliminary hearing under Section 9(a) or a request for a postponement under Section 11(c) below.

    (ii) In cases involving three arbitrators, any party filing a motion shall include a $425 motion fee for each motion filed more than 100 days after the last pleading is due. This fee may be subsequently waived at the discretion of the arbitrators, or the arbitrators may assess the motion fee against the party causing the filing of the motion. However, this fee shall not apply to a request for a preliminary hearing under Section 9(a) or a request for a postponement under Section 11(c) below.

* * *

(i) Depositions.

The Panel may, upon the motion of a party, order evidence depositions for good cause shown.

SECTION 9. HEARING.

* * *

(b) Place, Time and Notice of Hearing.

Except as provided in Section 7(h) or pParagraph (i) of this sSection, the place and time of the hearing shall be determined in the sole discretion of the Secretary, who shall endeavor to accommodate, if possible, the preferences of all parties as indicated in a timely-filed pleading and members of the Panel. Upon setting the initial hearing date, NFA shall serve notice on each party at least 45 days before the hearing of the date, time and place. NFA shall give reasonable notice of any rescheduled hearing date.

* * *

(d) Procedure.

* * *

(7) The Panel may order Members and employees thereof, and Associates to testify and produce documentary evidence. The Panel may issue subpoenas to non-Members as authorized by law. The parties must submit all subpoena requests to the Panel and serve those requests in accordance with Section 15(b) below. Subpoenas issued by the Panel may be enforced in a court of competent jurisdiction.

* * *

SECTION 10. AWARD, SETTLEMENT AND WITHDRAWAL.

(a) Issuance of Award.

The Panel shall notify NFA of its decision Wwithin 30 days after the record is closed. , the Panel shall render its award, in writing, NFA shall then prepare a written award form, to be dated and signed by the Panel members., which shall be delivered to NFA, who shall promptly serve a copy of the award on each party or its representative either personally or by certified mail. The award shall be that of the Panel majority.

NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets.
Site Index | Contact NFA | News Center | FAQs | Career Opportunities | Industry Links | Home
© National Futures Association All Rights Reserved. | Disclaimer and Privacy Policy