Mediator Fees

FINRA Mediator Annual Membership Fee

FINRA is instituting a $200 annual membership fee for all mediators who wish to remain on FINRA's roster. Payments are due by September 1, 2009, and can be submitted safely and easily on our Web site.

 

Pay Annual Registration Fee Here

 

Additional Annual Registration Option

You can submit your payment for the Mediator Annual Member Fee online. In the event you are unable to submit your payment online, you may pay by completing the Annual Membership Form and mail it with a check payable to FINRA. Should you require additional assistance, please email us or call (202) 728-8131.

 

Mediator Per Case Fees

Starting September 1, we will also begin deducting a one-time flat fee of $150 per mediation case. This is a change from our current practice of deducting fees per hour based on a mediator's hourly rate.

 

Summary of FINRA mediation fee changes:

Flat Per Case Fee $150 per case, valued over $25,000
Annual Fee $200 per year (due 9/1/09)

 

This new fee structure will enable us to continue providing a wide range of benefits to all FINRA mediators who remain on our roster.

 

Benefits for FINRA Mediators

We make best efforts to put all of our mediators on lists where specific qualifications meet the needs of the parties. We realize the parties are highly selective about which mediators they work with, and we have developed incentives for all of our mediators. Over the years, FINRA's mediator roster has gained a strong reputation with the parties and their attorneys.

 

  • FINRA Credential: FINRA mediators have a competitive advantage as a member of the leading securities mediation program. Since we screen and monitor our roster carefully, parties and their representatives value the quality and expertise of FINRA mediators.

  • Marketing Resources: We work with a database of over 1,600 frequent users of our forum to promote the quality of our mediators, the benefits of mediating and the advantages of FINRA mediation to parties and their counsel.

  • Access to FINRA Arbitration Cases: We reach out to the parties in every arbitration case, encouraging them to choose mediation, using our mediators. We anticipate more than 7,000 claims will be filed in arbitration this year alone. Our staff also converts inquiries from disputing parties that have not yet filed arbitration claims into FINRA mediations.

  • Lists and Disclosure Reports: When the parties ask for a list of potential mediators, we propose individuals from our roster with the necessary qualifications for each particular case and a detailed disclosure report for each mediator.

  • Time Savings: Our Mediation Administrators work directly with the parties by responding to questions and educating them about the mediation process. This assistance saves mediators time, helps bring parties to the table to mediate and allows mediators to focus on dispute resolution.

 

Financial Benefits

  • Retain More Earnings: Since FINRA will only deduct a flat fee of $150 per case after September 1, 2009, FINRA mediators will retain more of their hourly earnings for each FINRA mediation they conduct. View fee analysis for more details.

  • Prompt Payment: FINRA pays its mediators immediately upon conclusion of each FINRA mediation and receipt of a completed payment submission form. FINRA mediators do not have to wait for the parties to pay.

  • No Collection Risk: Since FINRA collects payments directly from the parties, mediators do not take any risk for non-payment of fees and expenses.

  • Direct Deposit: FINRA mediators can have payments deposited directly into their bank account by completing the direct deposit enrollment form.

 

Other Benefits

  • Indemnification: We provide our mediators with legal counsel, if sued in relation to a FINRA mediation. We will also indemnify the mediator, if held liable.

  • Administrative Assistance: Our staff provides administrative support to our mediators—scheduling hearings, coordinating locations in our facilities or elsewhere, collecting mediator fees and expenses. We ensure that all parties execute a Mediation Submission Agreement to establish the terms of the mediation in advance.

  • Facilities and Video Conference Resources: We offer conference rooms in our offices for FINRA mediations at no extra cost, and can help coordinate FINRA mediations that the parties conduct outside of our hearing locations. FINRA also has video conference facilities at our New York, Washington, D.C., Chicago, Boca Raton and Los Angeles offices to help parties and mediators reduce travel expenses.

 

We value your contribution to our forum and hope to continue working with you for many more years.

 

Questions? Email us.