Who Has Had A Problem With One Of Your Arbitrators

Anyone who has handled FINRA arbitrations, from the compliance officer to in-house counsel, you have probably had to deal with a problem arbitrator. How many of you have had arbitrators sleep through the proceedings? How many have had arbitrators who simply turn out to know absolutely nothing?

I suspect that the answers to these questions are an unfortunate yes. What would you do if one of your arbitrators was suspended for the unauthorized practice of law? This is the issue current winding its way through the federal courts in Philadelphia.

In this case that is on appeal, one of the arbitrators had this issue and the parties consents to have the remaining two panel members decide the case. The losing party is now claiming on appeal that it was denied its right to a panel of three arbitrators.