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Wed, 15 Sep 2017— Amendments to Bylaw 301. An explanation of the amendments and Interpretive Notice can be found in the August 30, 2017 rule submission letter.
Wed, 15 Sep 2017— Amendments to Registration Rules. An explanation of the amendments and Interpretive Notice can be found in the August 30, 2017 rule submission letter.
Wed, 15 Sep 2017— Amendments to Compliance Rule 2-9: NFA Interpretive Notice NFA Compliance Rule 2-9: Special Supervisory Requirements for Members Registered as Broker Dealers Under Section 15(b)(11) of the Securities Exchange Act of 1934. An explanation of the amendments and Interpretive Notice can be found in the August 30, 2017 rule submission letter.
Code of Arbitration
SECTION 11. ARBITRATION FEES.
[Effective dates of amendments: June 28, 1985; December 8, 1987; November 9, 1988; July 12, 1989; February 18, 1992; May 1, 1994; December 12, 1995; June 23, 1997; February 1, 2000; May 1, 2001; March 1, 2002; October 1, 2009 and January 15, 2014.]
(a) Filing and Hearing Fees.
(1) Except as provided in Section 6(n) and 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|
|$2,500.01 - $5,000.00||$100.00||$125.00|
|$5,000.01 - $10,000.00||$150.00||$125.00|
|$10,000.01 - $15,000.00||$175.00||$125.00|
|$15,000.01 - $25,000.00||$200.00||$125.00|
|$25,000.01 - $50,000.00||$300.00||$125.00|
|$50,000.01 - $100,000.00||$550.00 plus 1%
of excess over
|$100,000.01 - $150,000.00||$1050.00 plus 1%
of excess over
|$150,000.01 - $500,000.00||$1,550.00||$2,550.00|
|More than $500,000.00||$1,550.00||$5,100.00|
(2) Except as provided in Section 6(n), 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.
(3) NFA shall also collect additional hearing fees when:
(i) a party requests a preliminary hearing under Section 9(a);
(ii) a party requests an oral hearing under Section 9(i)(2); or
(iii) all the parties make a written request for three arbitrators under Section 4(a)(1). However, where the sole arbitrator asks NFA to appoint two additional arbitrators, NFA shall assess the additional fees equally against the parties.
(4) 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.
(1) A full refund of any filing and hearing fees paid under Section 11(a) above shall be made if, prior to the appointment of a Panel, a claim filed under Section 2(a) above is found to be not arbitrable or if the President declines to arbitrate a claim under Section 2(b) of this Code.
(2) Except as provided in Section 6(n) with respect to the initial hearing fee paid by the consolidated group of claimants, if all claims have been settled or withdrawn and NFA receives notice of the settlement or withdrawal at least five days in advance of the first scheduled pre-hearing conference date, if one is scheduled, or at least 30 days in advance of the first scheduled preliminary hearing date or oral hearing date, if no pre-hearing conference is scheduled, a full refund of the hearing fees paid under Section 11(a) and the arbitration service fees paid under Section 6(e) shall be made to the party paying the fee.
(3) Except as provided in Section 6(n) with respect to the initial hearing fee paid by the consolidated group of claimants, if all claims have been settled or withdrawn and NFA receives written notice of the settlement or withdrawal at least 15 days in advance of the summary proceeding start date or first scheduled oral hearing date or preliminary hearing date, the hearing fees paid under Section 11(a) and arbitration service fees paid under Section 6(e) shall be refunded to the party paying the fee in accordance with the schedule below.
|Amount of Claim
$0.00 - $25,00.00
|Hearing Fee Refund
|Service Fee Refund
(c) Postponement Fees.
Each party causing an adjournment or postponement of any scheduled oral hearing shall pay to NFA a postponement fee of $250 for the first postponement request by that party, $500 for the second request by that party, and $1,000 for any subsequent request by that party. This fee may be waived at the discretion of the arbitrators. The arbitrators also may assess reasonable and necessary expenses incurred by the parties and their witnesses, including reasonable attorneys' fees, as a result of a postponement. No fee shall be assessed if an arbitrator becomes ineligible or otherwise unable to serve, or if a hearing extends over the expected time period.