Are there any special rules for discovery in a securities arbitration case?
Yes, there are special rules for discovery in a securities arbitration case in Texas. The discovery rules are established by the Financial Industry Regulatory Authority (FINRA). FINRA is the governing body that administers arbitration proceedings. The FINRA Code of Arbitration Procedure sets out the rules for discovery in securities arbitration. Generally, the rules allow parties to conduct reasonable inquiry into the facts and testimony of the other parties. This includes requests for documents, answering interrogatories, and conducting depositions. In addition to the discovery rules established by FINRA, there may also be state-specific rules. In Texas, the parties may also need to adhere to Texas Rule of Civil Procedure 190.3, which governs discovery in civil cases in the state. The party requesting discovery must give notice of the discovery request to the other parties. The other parties must respond to the request in a timely manner. In summary, there are special rules for discovery in a securities arbitration case in Texas. These rules are established by FINRA and may include additional state-specific rules, such as Texas Rule of Civil Procedure 190.3. Following these rules is important for a successful arbitration.
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