Formal Decisional Procedure Law and Legal Definition

According to 17 CFR 12.2 ( Title 17 - Commodity and Securities Exchanges; Chapter I - Commodity Futures Trading Commission; Part 12 - Rules Relating To Reparations; Subpart A - General Information And Preliminary Consideration Of Pleadings), formal decisional procedure means, “where the amount of total damages claimed exceeds $ 30,000, exclusive of interest and costs, a procedure elected by the complainant or a respondent where the parties may be granted an oral hearing. A formal decisional proceeding is governed by subpart E.”