9221. Request for Hearing
(a) Respondent Request for Hearing.
With the filing of any Respondent's answer, such Respondent may:
(1) request a hearing;
(2) propose an appropriate location for the hearing; and
(3) propose, if the complaint alleges at least one cause of action involving a violation of a statute or rule described in Rule 9120(u), that the Chief Hearing Officer select a Market Regulation Committee Panelist for a Hearing Panel or, if applicable, an Extended Hearing Panel as described in Rule 9231.
If a Respondent requests a hearing, a hearing shall be granted. A Respondent who fails to request a hearing with the filing of his or her answer waives the right to a hearing unless a Hearing Officer, Hearing Panel, or, if applicable, an Extended Hearing Panel, grants, for good cause shown, a later filed motion by such Respondent requesting a hearing.
(b) Hearing Officer Order Requiring Hearing
In the absence of a request for a hearing from any Respondent, the Hearing Officer may order any complaint set down for hearing.
(c) Authority of Hearing Panel, Extended Hearing Panel to Order Hearing
If all Respondents waive a hearing, and the Hearing Officer does not order a hearing on his or her own motion, the Hearing Panel or, if applicable, the Extended Hearing Panel, may order a hearing or may consider the matter on the record, as defined in Rule 9267. If fewer than all Respondents waive a hearing, the Hearing Officer, the Hearing Panel, or, if applicable, the Extended Hearing Panel, may, in the exercise of its discretion, order that a hearing be held as to all Respondents. Alternatively, the Hearing Officer, the Hearing Panel, or, if applicable, the Extended Hearing Panel, may conduct a hearing as to only those Respondents who requested a hearing and consider the matter on the record as to those Respondents who waived a hearing.
(d) Notice of Hearing
The Hearing Officer shall issue a notice stating the date, time, and place of the hearing, and whether the hearing shall be held before a Hearing Panel or an Extended Hearing Panel, and shall serve such notice on the Parties at least 28 days before the hearing, unless:
(1) in the discretion of the Hearing Officer, he or she determines that extraordinary circumstances require a shorter notice period; or
(2) the Parties waive the notice period.
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Amended by SR-FINRA-2008-021 eff. Dec. 15, 2008. Amended by SR-NASD-97-81 eff. Jan. 16, 1998. Amended by SR-NASD-97-28 eff. Aug. 7, 1997. Amended eff. Apr. 15, 1987. Selected Notice: 08-57. |