Regulatory Alerts2024-12-17 | Regulatory Notice 24-16Added · Updated
Amendments Relating to the Applicability of the Document Production Lists to Simplified Customer Arbitrations Administered Under Rule 12800
FINRA has amended Rule 12800 of the Code of Arbitration Procedure for Customer Disputes to clarify the applicability of Document Production Lists in simplified customer arbitrations involving disputes of $50,000 or less. Effective for cases filed on or after March 3, 2025, the amendments specify that Document Production Lists apply to Option One regular hearings, while they do not apply to paper cases or Option Two special proceedings unless the customer explicitly requests their application. If no such request is made, arbitrators retain discretion to use relevant portions of the lists consistent with the expedited nature of these proceedings.
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