Mediation Case Flow Definitions

Parties Contacted by Staff
A mediation case administrator solicits parties involved in a pending arbitration to participate in Dispute Resolution’s Mediation Program.

 

Parties Evidence Interest
One party calls Dispute Resolution to request mediation or submits a request for mediation on paper or online.

 

Parties Agree to Mediate
Mediation is voluntary. All parties must agree to mediate.

 

  • Filing Fee
    Pursuant to Rule 14110, each party to a case that is submitted directly to mediation or to a case submitted originally to arbitration with FINRA Dispute Resolution will each pay a filing fee. In very limited circumstances, the Director of Mediation may grant a fee waiver based on financial hardship.

 

Mediator Selected
The parties select the mediator of their choice. The Dispute Resolution staff uses party input to create a list of mediators. Dispute Resolution provides the parties with background disclosure information for each potential mediator.

 

Mediation Sessions Scheduled
The parties agree on the date for the mediation session.

 

  • Mediator Fees and Expenses
    Pursuant to Rule 14110, parties participating in a mediation administered by FINRA Dispute Resolution will pay the mediator's fees and expenses. The charges will be apportioned equally among the parties unless they agree otherwise. Each party will deposit an equal portion of anticipated charges with FINRA Dispute Resolution before the first mediation session. The Director of Mediation will determine the anticipated mediator charges in each case.

 

Mediation Session Conducted
A mediation session normally takes place at one of FINRA’s offices or in the mediator’s office. Some mediation sessions take place telephonically. The sessions usually last less than one day.

 

Parties Agree to Settle
75 to 80 percent of all cases filed as mediations settle. Parties generally draft their own agreement.

 

  • Case Closed
    If there is a pending arbitration case, the staff will notify the arbitrators of the settlement.

or

 

Parties Reach Impasse
If a mediator is unable to assist the parties in reaching a settlement, he/she may encourage the parties to set a second session or make follow-up calls to encourage progress towards settlement.

 

  • Case Goes to Arbitration
    If the mediation arose out of a pending arbitration case, the arbitration will continue its course. If the parties filed solely for mediation, the claimant will need to file a separate claim requesting arbitration with Dispute Resolution.