About this Information
This information has been prepared by the Securities Industry Conference on Arbitration (SICA), a group composed of representatives of various self-regulatory organizations, the Securities Industry Association, and public members. SICA established a uniform system for the resolution of disputes involving investors and broker/dealers, which has been adopted by each of the self-regulatory organizations. |
|
Who Are the Arbitrators?
Arbitrators are
impartial persons who are knowledgeable in the areas in controversy.
Each sponsoring organization maintains a roster of individuals whose
professional qualifications and experience qualify them for service as
arbitrators. The arbitrators are not employees of the sponsoring
organization and they, not the sponsoring organization, will decide
your dispute. The arbitrators do, however, receive an honorarium from
the SROs.
The Director of Arbitration will appoint a panel, usually consisting of
one or three arbitrators. Unless a customer elects otherwise, the
majority of the members of such panels are individuals referred to as
"public arbitrators" who are neither associated with nor employed by a
broker/dealer or securities industry organization.
The Director of Arbitration will inform the parties of the names and
business affiliations of the selected arbitrators, their employment
histories for the last 10 years, as well as any conflict information
disclosed pursuant to the Uniform Code. Some parties are interested in
previous awards issued by prospective arbitrators. Each sponsoring
organization has developed procedures to make available information on
public customer awards issued since May 1989. |