Administrative Frequently Asked Questions (FAQ)
- 1. Are FINRA arbitration proceedings a matter of public record?
- Prior to the issuance of an award, information about an arbitration case is considered confidential. FINRA Awards are public. The Awards are available on our Awards Online Database. The Awards contain the names of the parties, the counsel of record for each party, the relief requested, and the relief awarded, if any.
- 2. Are there special form requirements for filing a motion in an arbitration?
- Pursuant to Code of Arbitration Procedure Rule 12503(a)(2) for Customer Disputes and Rule 13503(a)(2) for Industry Disputes, written motions may take the form of a letter, legal motion, or any other form that the panel decides is acceptable.
For additional information regarding motions, please refer to Rule 12503 for Customer Disputes and Rule 13503 for Industry Disputes.
- 3. Can I obtain documents from a specific arbitration case?
- Only parties to a FINRA case may obtain copies of documents (including pleadings and exhibits) for their case. Please contact the FINRA Regional Office handling your case to request documents.
- 4. Can I get a copy of an arbitration hearing that was recorded?
- If you are a party, or counsel to a party, in the case, you may request the digital recording or stenographic record of the case by contacting the case administrator assigned to the case. If you are not a party, the information you are requesting is not publicly available.
- 5. Are arbitration statements of claim available to the public?
- Information about a particular case, including the statement of claim, is considered confidential and is not publicly available. FINRA Awards are public. The awards are available on our Awards Online Database.
- 6. Does FINRA Dispute Resolution have any statistics on the percentage or number of cases where investors received awards?
- Information on both the number and percentage of arbitrations in which investors received an award, plus other arbitration data, is available on our Dispute Resolution Statistics Web page.
- 7. What amount does FINRA compensate arbitrators (aside from reimbursement of expenses)?
- Pursuant to Code of Arbitration Procedure for Customer Disputes Rule 12214 and Code of Arbitration Procedure for Industry Disputes Rule 13214, FINRA will compensate an arbitrator:
In addition, arbitrators that decide a discovery-related motion without a hearing session are paid $200, and arbitrators that decide one or more contested motions requesting the issuance of subpoenas are compensated $200.
- $200 for each hearing session in which the arbitrator participates (a hearing session lasts up to four hours);
- $75 per day to chairpersons for each hearing on the merits;
- $50 for travel to a hearing session that is postponed; and
- $100 for a postponed hearing session (other than a pre-hearing conference) if the hearing was postponed within 3 business days of the scheduled hearing.