Become An Arbitrator

FINRA Dispute Resolution relies on a roster of neutral, qualified arbitrators to help maintain its fair, impartial, and efficient system of dispute resolution. FINRA arbitrators are carefully selected from a broad cross-section of people, diverse in culture, profession, and background.

Disputes involving an investor require that a majority of the arbitrators be from outside the securities industry. Some intra-industry disputes require that all the arbitrators be from within the securities industry. Our goal is to recruit arbitrators from different backgrounds, such as educators, accountants, lawyers, business and securities professionals, and others. If you have at least five years of full-time, paid business or professional experience, you may qualify to serve on our roster.

Service. As a FINRA arbitrator, people from all walks of life will receive the benefits of your experience. You will be an integral part of a process that provides quick, fair, and inexpensive resolution of disputes involving the securities industry.

Skills. Not only will you learn the skills necessary to become a FINRA arbitrator, you will also acquire valuable skills that you can use any time. Once you are approved as an arbitrator, you will be required to participate in an arbitrator skills training program before being assigned to a case. FINRA has created a solid arbitrator training curriculum that serves as a model for other training programs across the U.S. Through training and service on cases, you will gain a broad knowledge of securities industry products, services, and terminology. Also, if you are an attorney, you may earn Continuing Legal Education (CLE) credits by taking this training. FINRA charges a very modest fee for its training programs.

Honoraria. Arbitrators are not employees of FINRA, but receive an honorarium at the rate of $200 per single-session hearing; $400 per double session. (A single session lasts up to four hours and a double-session hearing lasts for more than four hours, with hearings averaging approximately two-and-a-half days.) Compensation for service on cases decided without an in-person hearing is $125 per case.

Publications. FINRA Dispute Resolution produces materials that provide vital information about its arbitration and mediation programs, updates on FINRA Board actions, arbitration procedures, and training issues. FINRA Dispute Resolution produces various brochures, and The Neutral Corner, an award-winning newsletter geared specifically for FINRA arbitrators and others in the dispute resolution field. You may also view our Arbitrator Honorarium Frequently Asked Questions.

Download, complete, and return the arbitrator application form found on this Web site, or call (212) 858-4327, to obtain an Arbitrator Application Kit. If you already have a Kit, please complete the Arbitrator Application and return it to the address listed on the cover letter. You will need to include with the application two letters of recommendation written by persons who know you personally and can attest to your integrity and skills.

New applicants to the FINRA Dispute Resolution arbitrator roster must pay a non-refundable application fee of $80. The purpose of this fee is to offset FINRA's costs to verify the information provided by new arbitrator roster applicants. This fee will not be refunded under any circumstances. If a roster application is denied for any reason, or the arbitrator does not successfully complete the mandatory training, the $80 application fee will not be refunded. In order for your application to be considered, it must be submitted with your check in the amount of $80 payable to FINRA Dispute Resolution. Applications submitted without payment will be returned to the applicant. Additionally, you must complete the background information form that accompanies the application. This form will be sent directly to the outside vendor with whom FINRA has contracted to perform verification services.

Your application and letters of recommendation will be reviewed to determine if your credentials match our needs. The screening process generally takes 60 days.

Before you serve as a FINRA arbitrator, you will be required to complete FINRA Dispute Resolution's mandatory, basic arbitrator training program. The tuition fee for the program is $125. For more information, go to the Arbitrator Training page of our Web site.