Securities Arbitration: Practice and Forms - Fourth Edition
Securities Arbitration: Practice and Forms – Fourth Edition is a leading practical guide to the securities arbitration process, offering a start-to-finish reference for counsel representing investors, broker-dealers, financial institutions, and other market participants. Designed with a strong emphasis on practice and procedure, it provides attorneys and industry professionals with a reliable framework for handling the issues, strategic decisions, and procedural challenges that arise throughout an arbitration.
Built on more than thirty years of development and updating, the Fourth Edition reflects the continued importance of arbitration as a primary forum for resolving disputes involving investors, broker-dealers, and other financial institutions. The new edition incorporates significant developments in the field, including changes to FINRA procedures relating to the party portal, streamlined discovery, arbitrator selection, expanded opportunities for pre-hearing dismissal, and the evolving standards and process surrounding expungement. The book also addresses the impact of court decisions that continue to shape the securities arbitration landscape.
Comprehensive yet highly practical, this volume is intended to serve as an everyday working resource for attorneys, in-house counsel, compliance professionals, arbitration administrators, and arbitrators. Whether used to navigate a case from initial filing through hearing and award, or as a desk reference on discrete procedural issues, it offers clear guidance grounded in the realities of current securities arbitration practice.
In a field that continues to evolve, this edition recognizes that practitioners must stay current with ongoing regulatory and procedural developments, including updates from FINRA, the SEC, and SIFMA. It is an essential resource for lawyers and industry professionals who need a current, practice-oriented guide to this fast-moving area of dispute resolution.
PART I Securities Arbitration
Chapter 1 The Regulatory Framework of Securities Arbitration
Chapter 3 The Arbitration Agreement
Chapter 4 Determining Whether to Arbitrate or Litigate
Chapter 5 Compelling or Resisting Arbitration
Chapter 6 Commencing an Arbitration Proceeding
Chapter 8 The Conduct of the Hearing
Chapter 9 Remedies and Damages
Chapter 11 Enforcing or Appealing an Arbitration Award
Chapter 12 Mediation: An Alternative to Arbitration
PART II Statutes, Pleadings, and Forms
Chapter 1 The Regulatory Framework of Securities Arbitration
1-A Federal Arbitration Act, 9 U.S.C. § 1-306 (2018)
1-B Revised Uniform Arbitration Act
Chapter 3 The Arbitration Agreement
3-A Arbitration Provision Excerpt from Clearing Agreement
3-B Arbitration Provision Excerpt from Form U-4
Chapter 5 Compelling or Resisting Arbitration
5-A Letter Demanding Arbitration and Requesting that Civil Action Be Withdrawn
5-B Defendant’s Motion to Compel Arbitration and Stay Action
Chapter 6 Commencing an Arbitration Proceeding
6-A FINRA Statement of Claim (Customer Case)
6-B FINRA Respondent’s Statement of Answer and Affirmative Defenses (Customer Case)
6-C FINRA Statement of Claim (Expungement)
6-D FINRA Counterclaim and Third Party Claim
6-E Letter to FINRA Requesting Consolidation of Claims
Chapter 7 Pre-Hearing Matters
7-A FINRA Response to Production of Documents Pursuant to FINRA Document Production List (Customer Complaint)
7-B FINRA Request for Production of Documents and Information
7-C FINRA Response to Request for Production of Documents and Information
7-D FINRA Motion to Compel Production
7-E FINRA Subpoena for Attendance at Arbitration Hearing (Rule 12512)
7-F FINRA Order Directing Appearance at Arbitration Hearing (Rule 12513)
7-G FINRA Motion to Dismiss Ineligible Claims (Rule 12206)
7-H FINRA Motion to Dismiss (Rule 12504(a))
7-I FINRA Witness and Exhibit List
7-J Confidentiality Agreement Concerning Discovery
7-K Settlement Agreement and Release
APPENDIX
APPENDIX Rules and Forms: Internet Resources
Chapter 2 Jurisdiction
Arbitration and Mediation Forums
Chapter 3 The Arbitration Agreement
Sample Arbitration Clauses
Chapter 4 Determining Whether to Arbitrate or Litigate
Codes of Arbitration Procedure
Chapter 6 Commencing an Arbitration Proceeding
FINRA DR Portal User Guide for Arbitration and Mediation
FINRA Summary of Arbitration Fees
FINRA Claimant’s Arbitration Submission Agreement
FINRA Respondent’s Arbitration Submission Agreement
AAA Commercial Demand for Arbitration Form
JAMS Registration for Online Case Management System
JAMS Submission of Demand for Arbitration
Chapter 7 Pre-Hearing Matters
FINRA Dispute Resolution Party’s Reference Guides
FINRA Discovery Guides
FINRA Uniform Forms Reference Guide
FINRA Arbitrator’s Guide
FINRA Prehearing/Hearing Scripts & Forms
Chapter 9 Remedies and Damages
FINRA Arbitrator’s Form Order on Request for Permanent Injunction
Chapter 10 The Award
FINRA Award Information Sheet
Chapter 12 Mediation: An Alternative to Arbitration
FINRA Code of Mediation Procedure
FINRA Mediation Submission Agreement
FINRA Mediation Filing Fees
AAA Mediation Services
JAMS Mediation Case Submission Form
JAMS Mediation Agreement
Jordan D. Maglich received his B.A. in 2006 from the University of Florida and his J.D. and MBA from the University of Miami in 2010. He began his legal career in 2010 with Wiand Guerra King in Tampa, Florida where he concentrated his practice on defending broker-dealers and their associated persons in state, federal, and arbitral forums. In addition, Jordan regularly represented court-appointed receivers in enforcement actions brought by state and federal regulators that typically involved investment fraud and/or Ponzi schemes. Jordan also founded the blog Ponzi Tracker in 2011 which focused on tracking and cataloguing the proliferation of Ponzi schemes in the wake of Bernard Madoff’s historic Ponzi scheme collapse. Jordan’s work was regularly recognized and quoted in national media, and he strove to use the blog to create more awareness about the significant impact of those schemes.
After spending eight years at Wiand Guerra King, Jordan subsequently spent time at Quarles and Brady, LLP, and Buchanan Ingersoll & Rooney PC where he continued his multi-faceted practice. In 2022, Jordan joined the Raymond James Financial legal department where he currently serves as Senior Assistant General Counsel in the Litigation group. In his current role, he provides advice and counsel to Raymond James’ business units and participates in litigation involving the firm.
Jordan is a past President of the Tampa Bay Chapter of the Federal Bar Association where he remains an emeritus member of the Board of Directors. He currently serves as the Chair of the Florida Bar’s Thirteenth Circuit Grievance Committee “E” and on the Development Council of Bay Area Legal Services.
Elaine M. Rice graduated with High Distinction from The University of Michigan with a B.A. in Economics in 1991 and earned her J.D. from The University of Michigan Law School in 1994.
She began her legal career over thirty years ago in the complex litigation group of Gardere & Wynne in Dallas, Texas where she practiced in the areas of commercial litigation, class action litigation, antitrust litigation, and securities litigation as well as NASD (now FINRA) arbitration for national wire house clients. In 2001, Elaine moved to Florida and joined Fowler White Boggs Banker’s nationally recognized financial services and white-collar crime practice. In 2009, members of that practice formed Wiand Guerra King, where they continued to grow their practice. Now a Partner at Johnson, Newlon & DeCort, she continues her commercial and securities litigation and arbitration practice with a focus on financial services industry clients.
Elaine has more than three decades of experience representing FINRA member firms, investment advisors, financial institutions, registered representatives, officers, and directors in federal and state courts as well as FINRA arbitrations. She has handled hundreds of matters involving claims such as violation of state and federal securities laws, common law fraud, negligence, breach of fiduciary duty, breach of contract, failure to supervise, failure to conduct due diligence, churning, unauthorized trading, selling away, interpleader, expungement, promissory note collection, raiding, U-5 defamation, wrongful termination, expungement, and broker transition disputes. She also represents her clients in regulatory matters, including investigations and enforcement proceedings before state and federal regulatory agencies and self-regulatory organizations.
Elaine is a member of the Securities Litigation Section of the American Bar Association, the Federal Bar Association, the Hillsborough County Bar Association, and Southeastern Women in Financial Services. Elaine is also a past member of SIFMA’s Legal and Compliance Division.
Jordan D. Maglich received his B.A. in 2006 from the University of Florida and his J.D. and MBA from the University of Miami in 2010. He began his legal career in 2010 with Wiand Guerra King in Tampa, Florida where he concentrated his practice on defending broker-dealers and their associated persons in state, federal, and arbitral forums. In addition, Jordan regularly represented court-appointed receivers in enforcement actions brought by state and federal regulators that typically involved investment fraud and/or Ponzi schemes. Jordan also founded the blog Ponzi Tracker in 2011 which focused on tracking and cataloguing the proliferation of Ponzi schemes in the wake of Bernard Madoff’s historic Ponzi scheme collapse. Jordan’s work was regularly recognized and quoted in national media, and he strove to use the blog to create more awareness about the significant impact of those schemes.
After spending eight years at Wiand Guerra King, Jordan subsequently spent time at Quarles and Brady, LLP, and Buchanan Ingersoll & Rooney PC where he continued his multi-faceted practice. In 2022, Jordan joined the Raymond James Financial legal department where he currently serves as Senior Assistant General Counsel in the Litigation group. In his current role, he provides advice and counsel to Raymond James’ business units and participates in litigation involving the firm.
Jordan is a past President of the Tampa Bay Chapter of the Federal Bar Association where he remains an emeritus member of the Board of Directors. He currently serves as the Chair of the Florida Bar’s Thirteenth Circuit Grievance Committee “E” and on the Development Council of Bay Area Legal Services.
Elaine M. Rice graduated with High Distinction from The University of Michigan with a B.A. in Economics in 1991 and earned her J.D. from The University of Michigan Law School in 1994.
She began her legal career over thirty years ago in the complex litigation group of Gardere & Wynne in Dallas, Texas where she practiced in the areas of commercial litigation, class action litigation, antitrust litigation, and securities litigation as well as NASD (now FINRA) arbitration for national wire house clients. In 2001, Elaine moved to Florida and joined Fowler White Boggs Banker’s nationally recognized financial services and white-collar crime practice. In 2009, members of that practice formed Wiand Guerra King, where they continued to grow their practice. Now a Partner at Johnson, Newlon & DeCort, she continues her commercial and securities litigation and arbitration practice with a focus on financial services industry clients.
Elaine has more than three decades of experience representing FINRA member firms, investment advisors, financial institutions, registered representatives, officers, and directors in federal and state courts as well as FINRA arbitrations. She has handled hundreds of matters involving claims such as violation of state and federal securities laws, common law fraud, negligence, breach of fiduciary duty, breach of contract, failure to supervise, failure to conduct due diligence, churning, unauthorized trading, selling away, interpleader, expungement, promissory note collection, raiding, U-5 defamation, wrongful termination, expungement, and broker transition disputes. She also represents her clients in regulatory matters, including investigations and enforcement proceedings before state and federal regulatory agencies and self-regulatory organizations.
Elaine is a member of the Securities Litigation Section of the American Bar Association, the Federal Bar Association, the Hillsborough County Bar Association, and Southeastern Women in Financial Services. Elaine is also a past member of SIFMA’s Legal and Compliance Division.
PART I Securities Arbitration
Chapter 1 The Regulatory Framework of Securities Arbitration
Chapter 3 The Arbitration Agreement
Chapter 4 Determining Whether to Arbitrate or Litigate
Chapter 5 Compelling or Resisting Arbitration
Chapter 6 Commencing an Arbitration Proceeding
Chapter 8 The Conduct of the Hearing
Chapter 9 Remedies and Damages
Chapter 11 Enforcing or Appealing an Arbitration Award
Chapter 12 Mediation: An Alternative to Arbitration
PART II Statutes, Pleadings, and Forms
Chapter 1 The Regulatory Framework of Securities Arbitration
1-A Federal Arbitration Act, 9 U.S.C. § 1-306 (2018)
1-B Revised Uniform Arbitration Act
Chapter 3 The Arbitration Agreement
3-A Arbitration Provision Excerpt from Clearing Agreement
3-B Arbitration Provision Excerpt from Form U-4
Chapter 5 Compelling or Resisting Arbitration
5-A Letter Demanding Arbitration and Requesting that Civil Action Be Withdrawn
5-B Defendant’s Motion to Compel Arbitration and Stay Action
Chapter 6 Commencing an Arbitration Proceeding
6-A FINRA Statement of Claim (Customer Case)
6-B FINRA Respondent’s Statement of Answer and Affirmative Defenses (Customer Case)
6-C FINRA Statement of Claim (Expungement)
6-D FINRA Counterclaim and Third Party Claim
6-E Letter to FINRA Requesting Consolidation of Claims
Chapter 7 Pre-Hearing Matters
7-A FINRA Response to Production of Documents Pursuant to FINRA Document Production List (Customer Complaint)
7-B FINRA Request for Production of Documents and Information
7-C FINRA Response to Request for Production of Documents and Information
7-D FINRA Motion to Compel Production
7-E FINRA Subpoena for Attendance at Arbitration Hearing (Rule 12512)
7-F FINRA Order Directing Appearance at Arbitration Hearing (Rule 12513)
7-G FINRA Motion to Dismiss Ineligible Claims (Rule 12206)
7-H FINRA Motion to Dismiss (Rule 12504(a))
7-I FINRA Witness and Exhibit List
7-J Confidentiality Agreement Concerning Discovery
7-K Settlement Agreement and Release
APPENDIX
APPENDIX Rules and Forms: Internet Resources
Chapter 2 Jurisdiction
Arbitration and Mediation Forums
Chapter 3 The Arbitration Agreement
Sample Arbitration Clauses
Chapter 4 Determining Whether to Arbitrate or Litigate
Codes of Arbitration Procedure
Chapter 6 Commencing an Arbitration Proceeding
FINRA DR Portal User Guide for Arbitration and Mediation
FINRA Summary of Arbitration Fees
FINRA Claimant’s Arbitration Submission Agreement
FINRA Respondent’s Arbitration Submission Agreement
AAA Commercial Demand for Arbitration Form
JAMS Registration for Online Case Management System
JAMS Submission of Demand for Arbitration
Chapter 7 Pre-Hearing Matters
FINRA Dispute Resolution Party’s Reference Guides
FINRA Discovery Guides
FINRA Uniform Forms Reference Guide
FINRA Arbitrator’s Guide
FINRA Prehearing/Hearing Scripts & Forms
Chapter 9 Remedies and Damages
FINRA Arbitrator’s Form Order on Request for Permanent Injunction
Chapter 10 The Award
FINRA Award Information Sheet
Chapter 12 Mediation: An Alternative to Arbitration
FINRA Code of Mediation Procedure
FINRA Mediation Submission Agreement
FINRA Mediation Filing Fees
AAA Mediation Services
JAMS Mediation Case Submission Form
JAMS Mediation Agreement