Jurisdiction(s):
United Kingdom

Key definition

Authority definition

What does Authority mean? In practice, Authority refers to the public sector client that procures and manages a project or service and is the named counterparty in the contract. In public procurement, PFI/PPP, DBFM/DBFOM and outsourcing documents, it is a contractual shorthand for the “contracting authority” defined in legislation (England & Wales and Northern Ireland: Public Contracts Regulations 2015; Scotland: Public Contracts (Scotland) Regulations 2015; Ireland: European Union (Award of Public Authority Contracts) Regulations 2016). Typical Authorities include a local authority, an NHS trust or health board, a central government department or minister, a non‑departmental public body or agency, or another body...

FINRA Industry Code (United States) Arbitration: Archived guide to procedure for industry disputes - limitation, motions to dismiss, discovery, depositions, subpoenas, hearings, settlement and closing the record

Published by a LexisNexis Arbitration expert

Practice notes

ARCHIVED: This Practice Note is archived and no longer maintained. It is supplied for background information only.

The Financial Industry Regulatory Authority (FINRA) is an independent regulator for the US Securities industry. As part of its remit, FINRA operates the sector’s largest Dispute resolution forum. It addresses financial and business disagreements between investors, brokerage firms and individual brokers, as well as disputes between and amongst brokerage firms and brokers. These matters are handled through FINRA’s own arbitration process.

FINRA has two Codes of Arbitration Procedure:

the Code of Arbitration Procedure for Customer Disputes (the Customer Code or Section 12000 of the FINRA Rules)—which governs arbitration between investors and industry parties, and
the Code of Arbitration Procedure for Industry Disputes (the Industry Code or Section 13000 of the FINRA Rules)—which governs arbitration between industry parties

This note relates only to the Industry Code. For procedure under the Customer Code, see Practice Note: FINRA—procedure under the Customer Code [Archived].

Pre-action considerations

Limitation period

Under the Industry Code, Pt II, r 13206, any claim must be commenced within six years of the occurrence or event that gives rise to it. This rule...

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Web page updated on 22/05/2026

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