Burr & Forman

02.7.2017   |   Arbitration, Blog Articles, FINRA, Securities Litigation

FINRA to Require Web-Based Arbitration Filings

Effective April 3, 2017, all FINRA arbitration participants (except pro se parties) must use FINRA’s web-based DR-Portal to file and serve documents in both customer and industry arbitrations.

Pro se parties may elect to use the Portal or opt-out, using traditional filing and service methods instead.

Exceptions to Portal service include most items involving new or non-parties, documents produced and permanent injunction claims:

  • pro se customers who do not elect to use the Party Portal;
  • documents produced in response to discovery requests or pursuant to the Discovery Guide;
  • answers containing third party claims;
  • amended pleadings that add a party to an arbitration proceeding;
  • motions to the arbitrators to amend a pleading to add a party;
  • subpoenas to non-parties;
  • arbitrator orders to non-parties for the appearance of employees and associated persons of a member, or the production of documents in the possession or control of such persons or members; and
  • statements of claim requesting permanent injunctive relief.

The Rule changes make use of the Portal permissive in FINRA meditations.

Regulatory Notice 17-03 (January 2017) is here.

 

Thomas K. Potter, III (tpotter@burr.com) is a partner in the Securities Litigation Practice Group at Burr & Forman, LLP. Tom is licensed in Tennessee, Texas and Louisiana. He has over 30 years’ experience representing financial institutions in litigation, regulatory and compliance matters. See attorney profile.

© 2017 by Thomas K. Potter, III (all rights reserved).

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