FINRA's Small Claims Mediation Program and Mediation Submission Agreement
FINRA offers parties in active arbitration cases free or low-cost telephone mediation with initial claim amounts of $50,000 or less. Deficient or inactive arbitration claims and customer expungement cases do not qualify for mediation in this program. Participation by parties is voluntary.
The program offers telephonic mediation at:
- no cost for arbitration claims of $25,000 or less; or
- parties pay $50 per hour for cases with claims over $25,000 to $50,000 to cover reduced mediator fees. (FINRA collects this fee which is divided equally between the parties).
When parties mediate through this program, FINRA waives any Mediation filing fees.
Mediation is an informal process and offers both parties the opportunity to discuss their case privately and confidentially with an experienced mediator. FINRA mediators settle 4 of every 5 cases mediated through FINRA's Mediation Program. Learn more about the mediation process.
How to Participate
To mediate a small arbitration claim, sign and return the Mediation Submission Agreement.
FINRA will contact the other parties to determine their interest in mediating the dispute. Since mediation is voluntary, all parties must agree before the mediation can go forward. Once the parties agree to mediate, FINRA will assign a mediator who will contact the parties to schedule and conduct the mediation.
If you have any questions about the program, please email the Mediation Department.