In simplified arbitrations, the arbitrator will make a decision on your case by reviewing documents and written descriptions of what happened from you and your broker. This is a less costly alternative because you do not have to travel to a hearing and appear in person to give testimony and answer questions. You should carefully review the rules governing simplified arbitration before you file a claim. Mediation is also an option you should consider before going to arbitration. Mediation may allow you to save time and money because it is quicker than arbitration.
Mediation also can be less confrontational than arbitration.
If you can't reach an agreement through mediation, you can still go to arbitration. The NASD Dispute Resolution, Inc. and the NYSE have more information about mediation. That's one of the reasons why it is so important to investigate the disciplinary history of your broker or brokerage firm before you invest. For tips on how to do this, please read our publication entitled Check Out Your Broker . If you need help in finding a lawyer who specializes in securities complaints, read out search key topic Arbitration, How to Find a Lawyer Specializing in Securities .