FINRA to Require Web-Based Arbitration Filings

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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.

[View source.]

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations. Attorney Advertising.

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