As arbitration becomes a more prevalent form of dispute resolution, many attorneys who infrequently or never handle cases in arbitration continue to view it as a monolithic process that is essentially the same regardless of the forum. In fact, where one’s case is arbitrated can make a significant difference not only in how the process unfolds, but even in the final result.
There are three major arbitration providers available to parties in New York City: the American Arbitration Association (AAA), JAMS and the Financial Industry Regulatory Authority, or FINRA. Organizations and individuals considering which forum to use should be aware that there are substantial differences among the pre-hearing processes used by the three providers, with some resembling court litigation in important respects while others use pared-down procedures more consistent with the traditional arbitration model of a speedy, less formal mechanism. And, although FINRA is the required forum for disputes “aris[ing] out of the business activities” of members and “associated persons,”1 financial services institutions are still free to select AAA or JAMS in their mandatory pre-dispute arbitration agreements with employees.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]
