Be On The Lookout - New Rules For NASD Arbitrations - It's A Whole New Forum
NASD arbitration securities practitioners beware - you are no longer dealing with the "old" NASD Code of Arbitration Procedure. Effective April 16, 2007, NASD arbitration proceedings initiated after this date will be governed by a new Code of Arbitration Procedure - and there are plenty of new provisions and changes to learn. Everything from deadlines to motion practice and even the powers of the Director of Arbitration have been altered, codified, or clarified.
To aid parties and counsel in understanding the plethora of changes, the NASD has posted a detailed chart comparing new and old provisions of the Arbitration Codes relating to customer disputes, which even breakdowns and separates the substantive from more stylistic changes.
The NASD has posted on-line the 165-page chart discussing the changes at www.nasd.com/web/groups/rules_regs/documents/rule_filing/nasdw_018366.pdf
Obviously, it is much too early to determine what, if any, impact the changes will have on NASD arbitration proceedings. But given the substance and number of changes made, NASD arbitration practice will undoubtedly evolve to keep pace.
To aid parties and counsel in understanding the plethora of changes, the NASD has posted a detailed chart comparing new and old provisions of the Arbitration Codes relating to customer disputes, which even breakdowns and separates the substantive from more stylistic changes.
The NASD has posted on-line the 165-page chart discussing the changes at www.nasd.com/web/groups/rules_regs/documents/rule_filing/nasdw_018366.pdf
Obviously, it is much too early to determine what, if any, impact the changes will have on NASD arbitration proceedings. But given the substance and number of changes made, NASD arbitration practice will undoubtedly evolve to keep pace.
