Fees
Fees for arbitration and mediation vary based on the specific nature of each case. Arbitration and mediation fee tables are provided in the FINRA Rules, as specified below.
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Arbitration Fees
Arbitration fees consist mainly of filing fees and hearing fees. Additional fees are charged for other procedural processes that are needed in a specific case (e.g., discovery motion fees or adjournment fees) as well as fees for the role you play in the case (e.g., member surcharges). If you have an attorney representative, they too will charge fees. We offer a list of arbitration fees and terms below, and a Fee Calculator to assist you with estimating case fees. Typically, parties are responsible for their own fees unless the arbitrators rule otherwise.
Please contact your regional arbitration staff for case specific fee questions.
For answers to frequently asked questions about arbitration fees, visit the FAQs page.
Filing Fees
| Filing Fees | Customer Code | Industry Code | |
|---|---|---|---|
| Initial Filing Fee | The fee a claimant pays to file a claim. Partly refundable. | 12900 | 13900 |
| Counterclaim, Cross Claim and Third Party Claim Filing Fee | The fee a respondent pays to file a counterclaim, cross claim or third party claim. Partly refundable. | 12900 | 13900 |
| Statutory Discrimination Filing Fee Claimant | The fee a claimant pays to file a claim involving statutory employment discrimination claims. | N/A | 13802 |
Hearing Fees
| Hearing Fees | Customer Code | Industry Code | |
|---|---|---|---|
| Hearing Session Fees | The fees arbitrators assess to parties for each hearing session. A hearing session is any meeting between the parties and arbitrator(s) of four hours or less, including a hearing or a prehearing conference. Thus, two hearing sessions may be held in one day. | 12100(p) 12902 | 13100(p) 13902 |
Brokerage Firm Fees
| Brokerage Firm Fees (Arbitrators may not assess any of the surcharge and processing fees or the statutory discrimination filing fee paid by the respondent against other parties.) | Customer Code | Industry Code | |
|---|---|---|---|
| Member Surcharge | A surcharge based on the amount of the initial claim that will be assessed against each member that: (1) files a claim, counterclaim, cross claim, or third party claim; (2) is named as a respondent in a claim, counterclaim, cross claim, or third party claim; or 3) employed, at the time the dispute arose, an associated person who is named as a respondent in a claim, counterclaim, cross claim, or third party claim. | 12901 | 13901 |
| Member Process Fee | A non-refundable fee assessed to each member that is a party to an arbitration when FINRA sends the arbitrator lists to the parties. The fee amount is based on the largest amount in dispute in the case. If an associated person of a member is a party, the member that employed the associated person at the time the dispute arose will be charged the process fees, even if the member is not a party. No member shall be assessed more than one process fee in any arbitration. | 12903 | 13903 |
| Statutory Discrimination Filing Fee Respondent | The fee assessed to the member in cases involving statutory employment discrimination claims where there is a pre-dispute agreement to arbitrate. | N/A | 13802 |
Injunctive Claim Fees
| Injunctive Claim Fees | Customer Code | Industry Code | |
|---|---|---|---|
| Injunctive Relief Expedited Processing Fee | The fee a claimant pays to file an injunctive claim. The fee is in addition to all other required non-refundable filing fees. | N/A | 13804 |
| Injunctive Relief Arbitrator Honoraria Fee | The fee assessed to parties when they choose to pay the arbitrator more than the arbitrators' regular honoraria fee in injunctive hearings as described in the Codes of Arbitration Procedure. The fee amount is the difference between the standard rate and the agreed upon rate. | N/A | 13804 |
| Injunctive Relief Arbitrator Expenses | The fee assessed to parties for the arbitrators' travel-related expenses in injunctive cases when the arbitrator selected resides in another hearing location. | N/A | 13804 |
Adjournment Fees
| Adjournment Fees | Customer Code | Industry Code | |
|---|---|---|---|
| Adjournment Fees | The fee assessed when the arbitrators grant a party's postponement request. FINRA will not assess an adjournment fee in certain circumstances. | 12601 | 13601 |
| Last Minute Adjournment Fee | The fee assessed when a party requests a postponement or cancellation or the case is settled or withdrawn within 10 days before a scheduled hearing session and the arbitrators grant the request. This fee is in addition to the adjournment fee and will not be waived as a result of mediating through FINRA. | 12601 | 13601 |
| Late Prehearing Cancellation Fee | The fee assessed when a party requests a postponement or cancellation or the case is settled or withdrawn within 3 business days before a scheduled pre-hearing conference call. | 12214(a)(6) | 12214(a)(6) |
Other Fees
| Other Fees | Customer Code | Industry Code | |
|---|---|---|---|
| Discovery Motion Fee | The fee assessed when arbitrators decide a discovery motion without a hearing. | 12214(c) | 13214(c) |
| Contested Subpoena Fee | The fee assessed when arbitrators decide a contested motion for the issuance of a subpoena without a hearing. | 12214(c) | 13214(c) |
| Contested Orders for Production or Appearance Fee | The fee assessed when arbitrators decide a contested motion for the issuance of an order of production or appearance without a hearing. | 12214(c) | 13214(c) |
| Administrative Cost | Cost assessed to the parties for special services requested by parties (e.g., copies of documents of box retrieval fees). | N/A | N/A |
| Non-Sufficient Funds Fee | The fee FINRA assesses when the bank returns a check due to insufficient funds. | N/A | N/A |
Mediation Fees
FINRA mediation is voluntary, but more cost effective than arbitration. Mediation fees consist mainly of filing fees and the mediator’s session fee. Mediators set their own rates which are clearly stated on their disclosure reports, and will be provided to parties during the selection process. Sometimes a mediator may require a deposit or they may charge cancellation fees. Travel, room rental, and administrative fees may also be assessed. All fees are apportioned equally unless parties agree to a different arrangement.
Please see contact your regional mediation staff for case specific fee questions.
For answers to frequently questions about mediation fees, visit the FAQs page.
Filing Fees
| Filing Fees | Mediation Code | |
|---|---|---|
| Filing Fee: Cases Filed Directly in Mediation | The fee each party pays to participate in mediation. | 14110(a) |
| Filing Fee: Cases Initially Filed in Arbitration | The fee each party pays to participate in mediation. | 141110(b) |
Mediation Fees and Expenses
| Mediator Fees and Expenses | Mediation Code | |
|---|---|---|
| Mediator's Charges | The fees charged by mediators, including the mediator's travel and other expenses. The charges shall be specified in the Submission Agreement and shall be apportioned equally among the parties unless they agree otherwise. Each party shall deposit with FINRA its proportional share of the anticipated mediator charges and expenses, as determined by the Director, prior to the first mediation session. | 14110(c) |
Waivers
Investors and associated persons may submit a written request to their arbitration or mediation case administrator for a fee waiver stating the reason(s) that would make payment of the arbitration or mediation filing fee or interpretation services fees for an arbitration hearing a financial hardship. In support of the request, parties should include with the written request:
- Two most recently filed tax returns;
- Evidence of garnishments or liens;
- Two most recent pay stubs; and
- Any other supporting documentation (for example, an affidavit attesting to financial hardship, bank statements, etc.).
A request for waiver of the interpretation services fees must be filed no later than 60 days before the first day of the evidentiary hearing.
After FINRA reviews the documentation, FINRA will provide written notice of its decision. Note that for mediation, the mediator’s session fee is not waivable.
Refunds
For arbitrations, FINRA will issue a partial refund of the filing fee, less any fees or costs owed by that party, if the party notifies FINRA that the case is settled or withdrawn more than 10 calendar days before a scheduled hearing. Any refunds will be paid directly to the named parties, even if a non-party made payment on behalf of the named parties.
FINRA will not issue a refund if a party notifies FINRA that a claim is settled or withdrawn within 10 calendar days of a scheduled hearing.
The mediation filing fee is non-refundable, though it can be waived for hardship (see above).
The FINRA Finance Department will answer all questions regarding refunds. Contact the FINRA Finance Department at (240) 386-5910, or by email.