The Securities Arbitration Process
Can I Be Represented by an Attorney?
Parties have an absolute right to be represented by an attorney and may do so at any stage of the arbitration. Parties should be aware that, even if they do not elect to be represented by counsel, the other party may have an attorney, and they can assume that broker/dealers will be represented by an attorney.
Any party represented by counsel should notify the Director of Arbitration of the counsel's name and address either in the Statement of Claim or the Statement of Answer or by a separate written notice. After such notification, communications concerning the case will be addressed to the counsel.
The sponsoring organizations cannot recommend or provide counsel in the arbitration nor can employees of that organization provide legal advice. Parties who do not have counsel and wish to be represented may want to contact the local bar association for a referral.
About this Information
This information has been prepared by the Securities Industry Conference on Arbitration (SICA), a group composed of representatives of various self-regulatory organizations, the Securities Industry Association, and public members. SICA established a uniform system for the resolution of disputes involving investors and broker/dealers, which has been adopted by each of the self-regulatory organizations.
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