Our Commitment to Achieving Arbitrator and Mediator Diversity at FINRA

WHY DIVERSITY IS IMPORTANT

FINRA Dispute Resolution Services strives to provide a fair, efficient and effective forum for investors, brokerage firms, and their registered employees to resolve their securities disputes and recognizes the importance of providing a diverse pool of arbitrators from which parties can choose. 

"It's vitally important that our pool of arbitrators reflects the varied backgrounds of the parties who use the FINRA arbitration forum. We have bolstered our recruitment efforts, both in terms of increasing the numbers and diversity - in age, gender, race, and occupation - and continue working toward this goal." Richard W. Berry FINRA Executive Vice President and Director of Dispute Resolution Services

FINRA Dispute Resolution Services embarked on an aggressive campaign to recruit new arbitrators with a particular focus on adding arbitrators from diverse backgrounds, professions, and geographical locations by: 

• conducting outreach to more than 100 minority and women's organizations
• attending conferences that attract individuals of varied backgrounds
• networking and hosting events with diversity-based organizations
   

MAKING STEADY PROGRESS

To track our progress, we hired a third-party consultant to survey - on an anonymous and voluntary basis - the demographics of the neutrals on our roster from 2017 to 2022. In sharing the findings, FINRA strives to provide transparency about the current makeup of our arbitrator roster. In 2022, we saw increases across a number of categories (see highlighted green numbers below). While we are encouraged by these short-term results and incremental progress made, we recognize this is a long-term effort and our work is ongoing as we remain fully committed to achieving our diversity goals.

Neutral Demographics – Gender

Neutral Demographics – Race

Neutral Demographics – LGBTQ Status

Neutral Demographics – Age

Note: DataStar, a leading provider of survey management services, conducted the 2021 and 2022 surveys. Consulting firm Alight Solutions conducted the surveys from 2017 to 2020. Neutral responses were completely voluntary, confidential and anonymous. In the 2022 survey, the overall response rate was 31%. In the 2021 survey, the overall response rate was 32%. In the 2020 survey, the overall response rate was 37%. In the 2019 survey, the overall response rate was 39%. In the 2018 survey, the overall response rate was 39%. In the 2017 survey, the overall response rate was 37%.

Prior to 2019, the survey did not require respondents to answer all questions, which accounts for a discrepancy in the total number of responses in some categories.

MEDIATORS

We separately polled FINRA mediators in the annual survey. The statistics below for the entire mediator roster also includes mediators who are arbitrators.

Interested in joining FINRA's arbitrator roster? Visit our Become an Arbitrator webpage or contact us by email or (212) 858-4283 if you have questions. Interested in joining FINRA's mediator roster? Visit our Become a Mediator webpage or contact us by email or (561) 416-0277 if you have questions.