Proposed Rule

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Proposed Amendments

A) Proposed Amendments to Sections 7, 11 and 18 of NFA's Code of Arbitration (additions are underscored and deletions are stricken):


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    (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, or by an officer, partner or employee of the party. or other representative and 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.

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    (a) Filing and Hearing Fees.

    Except as provided in Section 18 of this Code, each party filing a claim under this Code shall pay a filing and hearing fee based on the amount claimed, including punitive and treble damages but exclusive of interest and costs, as follows:

Amount of Claim Filing Fee Hearing Fee
$0.00 - $2,500.00 $50.00 $125.00 50.00
$2,500.01 - $5,000.00 $100.00 $125.00 50.00
$5,000.01 - $10,000.00 $150.00 $200.00 150.00
$10,000.01 - $15,000.00 $175.00 $675.00 500.00
$15,000.01 - $150,000.00 $200 plus 1% of excess over $15,000.00 $1,275.00 725.00
$150,000.01 - $500,000.00 $1,550.00 $2,550.00 1,450.00
More than $500,000.00 $1,550.00 $5,100.00 2,900.00

    NFA will assess hearing fees for discovery conferences, hearing plan conferences, and preliminary or other hearing sessions. Where the hearing fees paid by the parties is not enough to cover the standard preset fees to be paid by NFA to the arbitrators, NFA shall collect additional fees to cover the fees to be paid to the arbitrators. If a case requires more than four days of hearing, the hearing fees will be twice the standard preset fees, unless the arbitrators order the fees to remain at the standard amount. The arbitrators, in their discretion, may assess the entire fee against any party or may divide the fee among any or all parties. Hearing fees shall be paid to NFA in advance of the hearing sessions to which they apply.

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    This Code shall govern any cross-claim or third-party claim filed by a Member or Associate against another Member or Associate under this Code, except that Sections 2 (a) and (b) of the Member Arbitration Rules shall apply to cross-claims or third-party claimsand Section 11(a) of the Member Arbitration Rules shall apply to such cross-claim or third-party claims.

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