During Mediation Settlement Month, FINRA is reducing their standard mediation fees and costs in order to promote the benefits of mediation. As a longtime securities arbitration lawyer, I am a big supporter of mediation to resolve FINRA securities arbitration claims. The more successful attorneys that I know spend more face-to-face time with mediators than they do before actual arbitrators. With the assistance of a good mediator, even parties that appear to have irreconcilable differences stand a fair chance of reaching a settlement. According to FINRA, 80% of the cases that go to mediation are settled—but this assumes everyone involved is willing to make some compromises.
As part of FINRA’s Mediation Settlement Month promotion, parties who agree to mediation by October 31st and conduct their mediation by December 21st will get a discount on FINRA’s mediation fees. For detailed information, click here to see FINRA’s Mediation Settlement Month flyer.