The Securities Arbitration Process
Can I Challenge an Arbitrator?
A party has an absolute right to request that one arbitrator on the panel be replaced without giving a reason for the request. This is called a peremptory challenge. This right may be exercised by filing a written notice of a challenge with the Director of Arbitration within the time period set in the rules. A party should supplement his or her written notice with a telephone call to the sponsoring organization. The Director of Arbitration may grant additional peremptory challenges if the interests of justice would be served. In addition, each party is entitled to an unlimited number of challenges for cause.
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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