FINRA Announces Reduced-Fee Mediation Program

Outisde the FINRA building in New York. (Photo: Shutterstock)

The Financial Industry Regulatory Authority announced Wednesday a “significantly” reduced-fee mediation program.

Parties can use remote mediation at significantly reduced fees through Aug. 31.

To date, more than 85 mediators have agreed to participate in the program, FINRA said, which features the following benefits:

• Parties will receive a random list of 10 national mediators along with their Mediator Disclosures for their consideration and ranking;
• The mediator payment for his/her service is $100 an hour split by the parties; and
• FINRA waives mediation filing fees and administrative fees (FINRA receives no revenue).

FINRA Dispute Resolution Services also offers virtual hearing services (via Zoom and teleconference) to parties in all cases by joint agreement of parties and mediator.

Questions should be directed to the following Mediation Administrator for your region.

Southeast and West Regions

Leon M. de Leon Phone: (561) 447-4917