Proposed Rule
2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | 1997 | 1996 | 1995 | 1994 | 1993 | 1992 | 1991 | 1990 | 1989 | 1988 | 1987 | 1986 | 1985 | 1984 | 1983 | 1982 | 1981 | Show fewer years
(additions are underscored and deletions are
CODE OF ARBITRATION
* * *
(g) Failure to comply.
(1) The President may, on 30 days written notice, summarily suspend a Member or Associate when the Member, or employee thereof, or Associate:
(i) fails to comply with an award within 30 days from the date of service of the award by NFA or such other period as specified in the award unless there is pending
-
(A) a request to modify the award is pending under Section 10(c) or
(B) the Member, or employee thereof, or Associate who failed to comply has a pending an application to vacate, modify or correct the award in a court of competent jurisdiction and has posted a bond with NFA equal to 150% of the amount of the award against that person or such lesser amount as NFA shall require in a particular case, but not less than 110% unless a satisfactory bond has been posted with the court; or
(iii) fails to comply with a settlement agreement executed in connection with an NFA-sponsored pre-arbitration mediation proceeding within 30 days after the time stated in the settlement agreement; or
(iv) fails to pay any fee assessed within the time so ordered by the Panel.
The suspension shall remain in effect until such award, settlement agreement, or order of the Panel has been satisfied.
MEMBER ARBITRATION RULES
* * *
SECTION 10. AWARD, SETTLEMENT, AND WITHDRAWAL.
(g) Failure to comply.
(1) The President may, on 30 days written notice, summarily suspend a Member or Associate when the Member or Associate:
(i) fails to comply with an award within 30 days from the date of service of the award by NFA or such other period as specified in the award unless there is pending
-
(A) a request to modify the award is pending under Section 10(c) or
(B) the Member or Associate who failed to comply has a pending an application to vacate, modify or correct the award in a court of competent jurisdiction and has posted a bond with NFA equal to 150% of the amount of the award against that person or such lesser amount as NFA shall require in a particular case, but not less than 110% unless a satisfactory bond has been posted with the court; or
(ii) fails to comply with a settlement agreement within 30 days after NFA terminates the arbitration proceeding pursuant to Section 10(h) or such other period as specified in the settlement agreement; or
(iii) fails to comply with a settlement agreement executed in connection with an NFA-sponsored pre-arbitration mediation proceeding within 30 days after the time stated in the settlement agreement; or
(iv) fails to pay any fee assessed within the time so ordered by the Panel.
The suspension shall remain in effect until such award, settlement agreement, or order of the Panel has been satisfied.