Mediation—Coming to a Financial Services Dispute Near You: Legislation, Regulation, and Economics Will Drive the Trend to Mediation in 2012

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In 2012, we no doubt will see the continuation of a significant trend towards the use of mediation to resolve financial services disputes. A perfect storm of economic, legislative, and regulatory conditions has been created with the potential to affect profoundly the likelihood that mediation will assume a larger role in the resolution of cases involving the financial services industry. Couple this with the fact that the average time between filing and disposition of civil cases in federal district court is over two years, and it becomes more likely that parties will take the mediation route more often.

This article analyzes the current conditions affecting how financial services disputes are handled and provides guidance on using mediation effectively.

Recent Developments Will Add to the Pressure to Settle

The Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) has brought into question the continued viability of pre-dispute arbitration agreements, increasing the probability that securities customer litigation will be filed in court. Furthermore, the assault on pre-dispute arbitration agreements is being waged on other fronts as well.

Please see full article below for more information.
 

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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