Administrative Frequently Asked Questions (FAQ)


1. Are FINRA arbitration proceedings a matter of public record?
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. Prior to the issuance of an award, information about an arbitration case is not made public by FINRA.

 

FINRA staff and the arbitrators on our roster are ethically obligated to keep information obtained in the arbitration confidential. However, parties or their counsel are generally free to disclose details of their own proceeding as they see fit.

 

Additional guidance on confidentiality is set forth in FINRA’s Discovery Guide. In discussing confidentiality in the discovery process, the guide provides: “[i]f a party objects to document production on grounds of privacy or confidentiality, the arbitrators or one of the parties may suggest a stipulation between the parties that the documents in question will not be disclosed or used in any manner outside of the arbitration of the particular case, or the arbitrators may issue a confidentiality order. When deciding contested requests for confidentiality orders, arbitrators should consider the competing interests of the parties. The party asserting confidentiality has the burden of establishing that the documents in question require confidential treatment. In deciding questions about confidentiality, arbitrators should, taking into account the facts of a particular case, consider factors” as set forth in FINRA’s Discovery Guide.

 

Arbitrators may ask the parties to provide briefs on confidentiality issues.
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 or counsel to a party in 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?
FINRA staff and the arbitrators on our roster are ethically obligated to keep information obtained and pleadings filed in the arbitration confidential. Accordingly, FINRA does not make statements of claim available to the public. However, parties or their counsel are generally free to disclose details of their own proceeding as they see fit. 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)?
For cases filed on or after December 15, 2014, 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:

 

  • $300 for each hearing session in which the arbitrator participates (a hearing session lasts up to four hours);
  • $125 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.
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 $250.

 

For cases filed before December 15, 2014, 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:

 

  • $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.