Are there any restrictions on pre-arbitration discovery requests in securities arbitration?

Yes, there are restrictions on pre-arbitration discovery requests in securities arbitration law in North Dakota. The North Dakota Securities Department, which has jurisdiction over securities arbitrations in the state, has adopted rules that limit the amount of discovery that can be exchanged between parties before arbitration. These rules limit the types of documents and information that can be requested prior to arbitration, and require that parties provide a detailed justification for why the information is being requested. This justification should show that the information is relevant to the dispute and explain how it will be used in the arbitration hearing. Additionally, North Dakota’s rules of arbitration prohibit parties from engaging in “fishing expeditions” or broad requests for information that are not relevant to the dispute. This helps to prevent the arbitration process from becoming overly lengthy or costly, as parties must demonstrate that the information they are requesting is necessary. The rules of arbitration in North Dakota also require parties to act in good faith and to keep the process as efficient and cost-effective as possible. This includes responding to discovery requests in a timely manner and avoiding unnecessary requests for information.

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Are there any restrictions on pre-arbitration discovery requests in securities arbitration?

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