In mediation, the parties discuss their problems and feelings in informal joint and private meetings with the mediator, usually an attorney with securities background. The mediator has no power to dictate a solution but offers suggestions to help the parties find an acceptable resolution. Unlike arbitration, mediation is not binding. If no agreement can be reached through mediation, you can still pursue arbitration or civil action. In fact, if you have already filed an arbitration claim but have not gotten to the hearing stage, you can request a delay pending mediation.
Mediation also is usually quicker and less expensive than arbitration.
Your first attempt to resolve any problem or concern with your account should be with the salesperson and the firm. DO NOT WAIT for a matter to correct itself. If a resolution is not forthcoming, do not hesitate to contact a regulatory authority such as the Division of Securities, or to seek legal advice. Informational brochures on Investing, Credit, Financing and Entrepreneurship. Presentations for the public on current financial topics.