What is mediation and how is it different than arbitration?

A: Mediation and arbitration are both forms of alternate dispute resolution. One of the most important differences, however, is that while arbitration is binding, mediation is not. Arbitration is almost always required in Ohio securities cases, but mediation can be pursued simultaneously with a pending FINRA arbitration claim. The informal mediation process may be used to assist the parties in reaching a mutually acceptable agreement prior to the arbitration hearing. If a settlement cannot be reached, the parties will still proceed to arbitration. For additional information, please contact our Ohio securities arbitration attorneys at 1.866.827.6537.