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Before a securities dispute goes to a hearing, there is a prehearing conference where the panel sets deadlines for things like gathering evidence, writing briefs, and making motions. They also schedule future hearing sessions and deal with other important matters. This meeting is usually held over the phone, but the parties can request to meet in person. If the parties agree not to have a prehearing conference, they must still provide important information in writing to the Director of Arbitration of the Financial Industry Regulatory Authority (FINRA).
When there is a dispute between parties in the securities industry, they may choose to resolve it through arbitration. Before the actual hearing takes place, there is a prehearing conference where the panel appointed to oversee the arbitration will set deadlines and address preliminary matters.
The first prehearing conference is called the Initial Prehearing Conference. During this meeting, the panel will:
This meeting is usually held over the telephone, unless the parties object otherwise.
The parties may agree not to hold the Initial Prehearing Conference. However, they must provide the following information, in writing, to the Director of Arbitration of the Financial Industry Regulatory Authority (FINRA):
For example, if two parties are in a securities dispute and they agree not to hold the Initial Prehearing Conference, they must still provide the necessary information to the Director of Arbitration of FINRA. This includes setting hearing dates, a discovery schedule, and deadlines for motions and briefs.
Overall, the prehearing conference is an important step in the securities dispute resolution process as it sets the groundwork for the actual hearing and ensures that both parties are aware of the deadlines and procedures involved.
Securities dispute resolution: Hearings | Securities dispute resolution: Response