St. John's University Law Faculty Blog

On February 26, Professor Christine Lazaro participated in the Securities Arbitration Commentator Podcast, “WHITHER (OR WITHER) THE FINRA MEDIATION PROGRAM?” George H. Friedman, former FINRA Director of Arbitration and long-time SAC Board of Editors member, moderated the discussion. In addition to Professor Lazaro, panelists included: mediator Roger M. Deitz, Esq.; Linda Drucker, Esq., Associate General Counsel, Charles Schwab & Co. Inc.; and Joe Peiffer, Esq., Partner, Peiffer Roca Wolf Abdullah Carr and Kane, LLC. SAC chose as the topic of discussion securities mediation today, in general terms, but, more specifically, the continuing role of FINRA’s Mediation Department. FINRA’s mediation program – the first in the securities field – is celebrating its twentieth anniversary this year. Over the past two decades, over 17,000 disputes have been referred to FINRA mediation. As we enter 2015, the program is at a crossroad. The number of staff dedicated to mediation has declined and competitors have emerged in the form of other dispute resolution providers and, even, the mediators themselves.

The program began with an overview of the history of the mediation program at FINRA. The conversation turned next to the contribution that technology now makes to securities mediations and the prospects for the future. Mr. Friedman ended the mediation podcast with a roll call of the panelists on what they foresee for securities mediation and FINRA’s Mediation Department five years from now.