Initiating Mediation

Parties may mediate before filing a formal claim or pleading in arbitration. Mediation can also be initiated at any stage of the arbitration process.

 

When the matter involves an arbitration before FINRA Dispute Resolution, the mediation process will run separately from the arbitration case. The arbitration case continues concurrently unless the parties agree otherwise.

 

Mediating parties with a case in arbitration may choose not to have the processes run concurrently. If no arbitration hearing dates have been scheduled, parties can agree to make their arbitration inactive until the mediation is concluded. If arbitration hearing dates have been scheduled, parties can agree to adjourn the hearing dates, and will not be assessed a hearing adjournment fee if they mediate using FINRA Dispute Resolution.

 

The parties may submit all or some of the issues in dispute to FINRA mediation. They may mediate selected substantive issues or disputes over such procedural issues as the extent, nature, and schedule of discovery.

 

When one party expresses an interest in mediation, FINRA Dispute Resolution will contact the other party or parties, explain the mediation process, and answer any questions. FINRA Dispute Resolution staff is trained to explain the benefits of mediation and to help bring all parties to the table. The mediation process begins as soon as all parties agree.

 

FINRA Dispute Resolution staff will ask each party to sign a Mediation Submission Agreement where the parties agree to abide by the NASD Mediation Rules. Prospective parties should carefully read the Mediation Rules as well as this pamphlet.