Mediator Selection

Parties agree and pre-select their own mediator, or ask FINRA to compile a list from its roster of experienced mediators. Parties may choose from the following three list options:

I. Randomized Virtual Option

Under the new pilot program, the randomized virtual list option will provide parties with a randomized list of 20 mediators who are available to mediate virtually in the parties’ hearing location time zone. This is our default option that will be provided if the parties do not advise of a different agreement.

II. In-Person Option

For in-person mediations, staff will provide the parties with a randomized list of 20 mediators who are available to mediate in person in the parties’ hearing location. This list includes mediators who have indicated willingness to travel to this location. Staff can filter by local mediators if necessary for a more cost-effective option.

III. Bespoke Request Option

Parties utilizing the third list option are able to request specific mediator attributes (self-reported) and mediation staff will compose a bespoke list that incorporates these requests. We can filter our mediator roster based on actual location, language, diversity, rates, reduced-fee program participation, and securities skills and expertise (e.g., churning or employment issues).

FINRA will include a disclosure report for each mediator listed. The disclosure report contains the mediator's rate (hourly fee or flat fee), any travel or cancellation policies, educational and employment experience, type of cases mediated, the number of cases mediated and how many settled, all of which help the parties select the mediator who best meets their needs.