NASAA Fall Conference 2012 Revisions to Form ADV Part 1B Overview
NASAA Fall Conference 2012 Joint Web CRD/IARD Forum provided an overview of the revisions to Form ADV Part 1B, highlighting changes to various sections such as Supervision/Compliance, Disclosure Reporting Pages, Custody, and more. The revisions were proposed by NASAA's CRD/IARD Steering Committee and approved by NASAA members.
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Presentation Transcript
Dispute resolution stages under the Arbitration Rules of the Chamber of Arbitrators at the Union of Lawyers Constitution of the arbitral tribunal Commencement of arbitral proceedings Arbitral proceedings Award Registration fee payment Arbitration fee payment Allocation of costs up to 1 month up to 6 months
1. Commencement of arbitral proceedings Registration fee payment 15 days Statement of defence Statement of claim 1 4 Chamber of Arbitrators Respondent Claimant Statement of claim Statement of claim Does the statement of claim comply with the provisions of the Rules? 2 No Yes Return of the Statement of claim Commencement of arbitral proceedings 5 days 5 days 3 3
2. Constitution of the arbitral tribunal 15 days 50% arbitration fee payment 50% arbitration fee payment Arbitrator Arbitrator 1 1 Chamber of Arbitrators Respondent Claimant Have the 2 Respondent paid the arbitration fee? 4 No Yes Has the Claimant paid the arbitration fee for the Respondent? Constitution of the arbitral tribunal 3 3 Yes No Case file 5 5 Arbitral tribunal Termination of the proceedings
3. Arbitral proceedings 30 days 30 days Detailed statement of defence Detailed statement of claim 2 1 Chamber of Arbitrators Respondent Claimant Written statements 3 Arbitral tribunal Oral hearings or Award Have the arbitral tribunal required further written statements? Submission of further written statements 4 No Yes 5 5
4. Award Arbitral tribunal Have the parties concluded a settlement agreement? 1 No Yes The arbitral tribunal renders its award The arbitral tribunal renders an award on agreed terms 2 2 6 months since the receipt of the case file 3 Award Chamber of Arbitrators Verification of the award 4 Claimant Respondent Award Award 5 5
