FINRA Arbitration Services
Although most business in the securities industry is completed with out a problem, disputes and controversies will occasionally arise. Such disputes and controversies can be resolved by impartial arbitration conducted in accordance with the Uniform Code of Arbitration (Univorm Code or UCA) as developed by the Securities Industry Conference on Arbitration (SICA) and the rules of the sponsoring organization where the claim is filed.
Arbitration is a method of having a dispute between two or more parties resolved by impartial persons, arbitrators, who are knowledgeable in securities industry disputes. Arbitration of disputes with broker/dealers has long been used as an alternative to the courts because it is devised as a prompt and inexpensive means of resolving complicated issues.
An arbitration award is final and binding, subject to review by a court only on a very limited basis. Parties should recognize, too, that in choosing arbitration as a means of resolving a dispute, they generally give up their right to pursue the matter through the courts.