FINRA Arbitration Awards Online Terms of Use

Last modified: November 17, 2023

FINRA's Arbitration Awards database enables users to perform Web-based searches for FINRA and historical NASD arbitration awards free of charge, seven days a week. Also available through the site are historical awards for New York Stock Exchange, the American Stock Exchange, the Philadelphia Stock Exchange, and the Municipal Securities Rulemaking Board. Users may search for awards by Case Number, Document Text, Date of Award (by date range), Forum, Document Type, or a combination of search parameters. Awards can be viewed online, printed, or downloaded as text-searchable PDF files.

 
  1. Agreement.
    1. These Arbitration Awards Online Terms of Use govern access and use of Arbitration Awards Online and the Arbitration Awards Online data. By accessing and using Arbitration Awards Online or the Arbitration Awards Online data, you certify that (1) you have read and understand these Terms of Use and (2) you agree to these Terms of Use and the terms and conditions displayed at http://www.finra.org/legal-notices. By agreeing to these Terms of Use on behalf of an organization, you certify that you have the authority of that organization to enter into these Terms of Use. If you do not agree to these Terms of Use, you must cease all use of Arbitration Awards Online and the Arbitration Awards Online data. FINRA reserves any rights, privileges, or immunities not expressly granted under these Terms of Use. 
    2. FINRA reserves the right to change these Terms of Use from time to time at its sole discretion. Your access and use of Arbitration Awards Online or the Arbitration Awards Online data constitutes your acknowledgement of and agreement to the updated Terms of Use. Your access and use of Arbitration Awards Online and the Arbitration Awards Online data will be subject to the most current version of the Terms of Use posted on the home or login page of Arbitration Awards Online at the time of such use. You should periodically check the "Terms of Use" link on the home or login page of Arbitration Awards Online to view the then-current Terms of Use.
  2. Changes to Arbitration Awards Online. FINRA reserves the right to modify or discontinue Arbitration Awards Online with or without notice to you. FINRA will not be liable to you or any third party should it exercise its right to modify or discontinue Arbitration Awards Online.  If you object to any such changes, your sole recourse will be to cease access to Arbitration Awards Online and any data accessed through Arbitration Awards Online.  Continued use of Arbitration Awards Online or Arbitration Awards Online data following notice of any such changes will indicate your acknowledgement of such changes and satisfaction with Arbitration Awards Online as so modified.  
  3. Ownership. FINRA Arbitration Awards Online is a proprietary product and employs proprietary software. FINRA reserves all intellectual property and proprietary rights in and to FINRA Arbitration Awards Online. You acknowledge and agree that FINRA is the exclusive and rightful owner of, and shall retain all worldwide right, title and interest in and to, all registered and unregistered, and any future registered, names, trademarks, trade dress, service marks, domain names, and logos, or any derivation thereof, and all goodwill therein, of FINRA and its affiliates ("Licensed Marks").  Nothing contained in these Terms of Use shall serve to transfer to you any ownership or proprietary interest in the Licensed Marks.  
  4. Permitted Uses. Subject to Section 6 (Restrictions) and any other restrictions in these Terms of Use, the data provided through Arbitration Awards Online shall be used ONLY for your own personal or professional use, and in accordance with these Terms of Use:
    1. to assist you, your clients or your organization in determining whether to conduct or continue to conduct securities or commodities business with FINRA member firms or their associated persons;
    2. to assist you, your clients or your organization in judicial proceedings or arbitration proceedings relating to securities or commodities transactions; 
    3. to assist you, your clients or your organization in complying with securities or financial services laws, rules and regulations; or 
    4. for non-commercial purposes consistent with the promotion of just and equitable principles of trade and the protection of investors and the public interest. 

      All other uses are strictly prohibited.
  5. Investor Protection, Academic, Compliance and Regulatory Uses. Notwithstanding the restrictions set forth in Section 4 and Section 6(e), (f), (g), and (k), the Arbitration Awards Online data may be copied and compiled, including by use of data mining, scraping or harvesting tools (including robots) or similar data gathering or extraction tools, and used solely for investor protection, academic, compliance or regulatory purposes, provided that you comply with these Terms of Use, and, if such data is communicated, sold, leased, loaned, distributed, transferred, or sublicensed to any third party, you must also comply with the following requirements:
    1. clearly indicate Arbitration Awards Online is the source of any data;
    2. include links to Arbitration Awards Online and the Terms of Use with the Arbitration Awards Online data, and a notice that use of Arbitration Awards Online data is subject to the Terms of Use;
    3. specify how the Arbitration Awards Online data is used, describe any changes made to the Arbitration Awards Online data and describe your basis for any recommendations or ratings of brokers or firms derived from the Arbitration Awards Online data;
    4. provide a reasonable mechanism for third parties to report to you any errors or outdated information in the Arbitration Awards Online data and (a) timely correct such errors or outdated information if produced by you or (b) if Arbitration Awards Online is the source of such errors or outdated information, instruct such third party to notify FINRA; and 
    5. disclose when the Arbitration Awards Online data was retrieved, and use reasonable efforts to ensure such data is the most current data available through Arbitration Awards Online at the time of publication/distribution. 
  6. Restrictions. Notwithstanding the permitted uses of Arbitration Awards Online described in Section 4 of these Terms of Use and except as otherwise provided in Section 5, in no case may you:
    1. decompile, reverse engineer, disassemble, modify, distribute, or create derivative works or improvements from Arbitration Awards Online or any portion thereof, or attempt to discover any source code, protocols, or other trade secrets in Arbitration Awards Online;
    2. obtain or attempt to obtain unauthorized access to FINRA’s network;
    3. incorporate Arbitration Awards Online into any hardware or software device;
    4. use, export, or re-export Arbitration Awards Online in violation of applicable laws or regulations;
    5. sell, lease, loan, distribute, transfer, or sublicense Arbitration Awards Online or the data contained therein or access thereto or derive income from the use or provision thereof, whether for direct commercial or monetary gain or otherwise;
    6. develop or create a database of data using Arbitration Awards Online or the data contained therein;
    7. use any process to monitor or copy Arbitration Awards Online in bulk, , or use any data mining, scraping or harvesting tools (including robots) or any similar data gathering or extraction tools;
    8. use any device, software or routine to bypass any software or hardware that limits the volume or frequency of requests for the Arbitration Awards Online data;
    9. attempt to interfere or interfere with the proper working of Arbitration Awards Online, including taking any action that imposes an unreasonable or disproportionately large load on Arbitration Awards Online (including by making voluminous, excessive or repetitive requests for data) or FINRA;
    10. alter or modify the factual content of the Arbitration Awards Online data; 
    11. create derivative works or improvements from Arbitration Awards Online data;
    12. use Arbitration Awards Online or the data contained therein in any unlawful, fraudulent, misleading, obscene, harmful, threatening, harassing, defamatory or hateful manner, that invades the privacy of any third party, for any unlawful purpose, or in any manner inconsistent with these Terms of Use;
    13. use Arbitration Awards Online data for unsolicited marketing of goods or services;
    14. use Arbitration Awards Online or Licensed Marks in a manner that infringes, violates or misappropriates FINRA’s, its affiliates, or a third party’s intellectual property rights;
    15. display Arbitration Awards Online or the Licensed Marks on any website or in any manner that disparages FINRA or is otherwise threatening, vulgar or inappropriate as FINRA determines, in its sole discretion;
    16. use any portion of the Arbitration Awards Online in the development of any software program or in conjunction with any machine learning, neural network, deep learning, predictive analytics or other artificial intelligence computer or software program, including, without limitation, by using any portion of the Arbitration Awards Online in conjunction with a model, algorithm, or process that is designed to predict trades for or within an individual portfolio, fund, or other investment vehicle; or
    17. use Arbitration Awards Online for any purposes, other than those specified in Section 4 or Section 5, for which you have not been granted written permission by FINRA.

      FINRA reserves the right to suspend or terminate your access to Arbitration Awards Online with or without notice to you, in the event that FINRA believes that you have violated any provision of these Terms of Use.
  7. Requests. All requests for permission to access or use Arbitration Awards Online or the Arbitration Awards Online data for a purpose or in a manner not otherwise permitted under these Terms of Use must be made in writing to FINRA, clearly stating the proposed purpose and manner of the use. Requests must be submitted to FINRA at: (i) FINRA Dispute Resolution Services, Brookfield Place, 200 Liberty Street, New York, NY 10281; or (ii) [email protected]. 

    FINRA, in its sole discretion, may approve or reject any requests.
  8. Disclaimers; Limitation of Liability.
    1. YOU ACKNOWLEDGE AND AGREE THAT ARBITRATION AWARDS ONLINE IS PROVIDED "AS IS" AND "AS AVAILABLE" WITH ALL FAULTS AND THAT YOUR USE OF ARBITRATION AWARDS ONLINE SHALL BE AT YOUR SOLE RISK. TO THE FULLEST EXTENT PERMITTED BY LAW, FINRA, ITS OFFICERS, DIRECTORS, EMPLOYEES, AGENTS, AFFILIATES, AND LICENSORS (THE “FINRA PARTIES”) DISCLAIM ALL WARRANTIES, EXPRESS OR IMPLIED, IN CONNECTION WITH ARBITRATION AWARDS ONLINE AND YOUR USE THEREOF.  FINRA MAKES NO WARRANTIES OR REPRESENTATIONS ABOUT THE QUALITY, ACCURACY OR COMPLETENESS OF ARBITRATION AWARDS ONLINE AND ASSUMES NO LIABILITY OR RESPONSIBILITY FOR ANY:  (I) ERRORS OR OMMISSIONS IN ANY CONTENT; (II) TECHNICAL ERRORS AFFECTING ARBITRATION AWARDS ONLINE IN ANY WAY; (III) BUGS, VIRUSES, TROJAN HORSES, OR THE LIKE WHICH MAY BE TRANSMITTED TO OR THROUGH ARBITRATION AWARDS ONLINE BY ANY THIRD PARTY; AND/OR (IV) LOSS OR DAMAGE OF ANY KIND INCURRED AS A RESULT OF THE USE OF ARBITRATION AWARDS ONLINE.
    2. NO ADVICE, INFORMATION, OR DATA, WHETHER ORAL OR WRITTEN, OBTAINED BY YOU FROM FINRA OR THROUGH OR FROM USE OF ARBITRATION AWARDS ONLINE SHALL BE INTENDED TO PROVIDE ANY LEGAL, TAX, INVESTMENT OR FINANCIAL ADVICE OR TO BE COMPLETE ON ANY SUBJECT MATTER CONTAINED THEREIN.
    3. IN NO EVENT WILL THE FINRA PARTIES BE LIABLE TO YOU FOR ANY DIRECT, SPECIAL, INCIDENTAL, EXEMPLARY, PUNITIVE OR CONSEQUENTIAL DAMAGES (INCLUDING LOSS OF USE, DATA, BUSINESS OR PROFITS) OR FOR THE COST OF PROCURING SUBSTITUTE PRODUCTS ARISING OUT OF OR IN CONNECTION WITH THESE TERMS OF USE OR THE USE OR DISTRIBUTION OF ARBITRATION AWARDS ONLINE, WHETHER SUCH LIABILITY ARISES FROM ANY CLAIM BASED UPON CONTRACT, WARRANTY, TORT (INCLUDING NEGLIGENCE), STRICT LIABILITY OR OTHERWISE, AND WHETHER OR NOT FINRA HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH LOSS OR DAMAGE. SOME JURISDICTIONS MAY NOT ALLOW LIMITATION OF INCIDENTAL OR CONSEQUENTIAL DAMAGES SO THIS RESTRICTION MAY NOT APPLY.
  9. Privacy. In consideration of your use of Arbitration Awards Online, you agree that FINRA may collect generic tracking data related to your or your end users’ use of Arbitration Awards Online in accordance with the FINRA website Privacy Policy found at http://www.finra.org/finra-website-privacy-policy.
  10. Severability.  If a court of competent jurisdiction holds any provision of these Terms of Use to be unenforceable, then that provision is to be construed either by modifying it to the minimum extent necessary to make it enforceable (if permitted by law) or disregarding it (if not).  If an unenforceable provision is modified or disregarded in accordance with this Section, all other provisions of these Terms of Use are to remain in effect as written.
  11. Third-Party Beneficiaries.  Nothing in this Agreement confers any legal or equitable right, benefit or remedy upon any party other than you and FINRA.
  12. Injunction. In the event of any actual or threatened unauthorized use, loss or disclosure of the Arbitration Awards Online data, FINRA will be entitled, without waiving any other rights or remedies, to immediate injunctive or equitable relief from a court of competent jurisdiction and may obtain any order restraining any threatened or future unauthorized use, loss or disclosure, in each case, on use of affidavit evidence or otherwise, and without furnishing proof of actual damages or posting a bond or other surety.
  13. Governing Law. These Terms of Use constitute the entire agreement between you and FINRA with respect to the subject matter hereof, and supersede all previous agreements between you and FINRA with respect to such subject matter. These Terms of Use shall be construed in accordance with the laws of the State of New York, without regard to its conflict of laws rules. You and FINRA agree that any claim arising under these Terms of Use shall only be brought in the state or federal courts located in the County and State of New York. You and FINRA agree to submit to personal jurisdiction in that court and expressly waive any right to a jury trial. 

By selecting the Terms of Use box, you certified that you have read and understand the Terms of Use set forth above and intend to form a binding agreement with FINRA. If you are accepting these Terms of Use on behalf of an organization, you certified that you have the authority of that organization to enter into these Terms of Use.