NFA Manual / Rules
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Member Arbitration Rules
SECTION 12. ARBITRATION COSTS.
[Adopted effective February 18, 1992. Effective dates of amendments: May 1, 1994 and March 12, 1996.]
A Panel may assess against a party any one or more of the following costs, upon a finding that such party's claim or defense was frivolous or was made in bad faith, or that the party engaged in willful acts of bad faith during the arbitration: Reasonable and necessary expenses incurred by (a) the arbitrators or (b) any other party or witness, including reasonable attorneys' fees. The Panel may also award attorneys' fees provided that a statutory or contractual basis exists for awarding such fees. Requests for attorneys' fees and costs incurred in the arbitration proceeding must be raised in the proceeding or they are waived.