--- title: The Uncertain State of FINRA Arbitration date: 2015-02-18T00:00:00-05:00 author: Import Bot canonical_url: "https://www.kelleydrye.com/viewpoints/articles/the-uncertain-state-of-finra-arbitration-2" section: Articles --- # The Uncertain State of FINRA Arbitration February/March 2015 *Practical Law The Journal: Transactions & Business* Partner [Philip Robben](/Our-People/Philip-D-Robben) and associate [Genna Steinberg](/Our-People/Genna-S-Steinberg) co-authored an article, ​“The Uncertain State of FINRA Arbitration,” published in *Practical Law The Journal: Transactions & Business*. Several recent US Court of Appeals decisions demonstrate that, in certain contexts, members of the Financial Industry Regulatory Authority (FINRA) may seek to avoid arbitration provided for under FINRA Rule 12200 by adding judicial forum selection clauses to their customer agreements. While these decisions agree that parties can contract around FINRA’s arbitration requirement, the rulings create a potential conundrum for FINRA members, who may face disciplinary actions by FINRA for expressly avoiding its arbitration mandate. - Share this entry - - - - - [ View entry pdf ](https://s3.amazonaws.com/cdn.kelleydrye.com/content/uploads/pdf-snapshots/the-uncertain-state-of-finra-arbitration-2-20230802201129.pdf) ### Attachments - [The Uncertain State of FINRA Arbitration](https://s3.amazonaws.com/cdn.kelleydrye.com/content/uploads/attachments/The-Uncertain-State-of-FINRA-Arbitration.pdf) ### Related Services - [Financial Institutions](https://www.kelleydrye.com/industries/financial-institutions) Blog [ ![](https://d3iuizmsm2hayf.cloudfront.net/content/uploads/Listing-rectangles/Blog_Post_Listing.svg) ![](https://d3iuizmsm2hayf.cloudfront.net/content/uploads/Listing-Images/adlaw_billboard_listing.webp?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=750&q=80&w=1125&s=e1a7aebcee8115938489d6575321e698) ](https://www.kelleydrye.com/viewpoints/blogs/ad-law-access/hawaii-enacts-a-synthetic-performer-law) Ad Law Access July 26, 2026 [ ](https://www.kelleydrye.com/viewpoints/blogs/ad-law-access/hawaii-enacts-a-synthetic-performer-law) Blog [ ![](https://d3iuizmsm2hayf.cloudfront.net/content/uploads/Listing-rectangles/Blog_Post_Listing.svg) ![](https://d3iuizmsm2hayf.cloudfront.net/content/uploads/Listing-Images/Trade_and_Manufacturing_Monitor.webp?auto=compress%2Cformat&crop=focalpoint&fit=crop&fp-x=0.5&fp-y=0.5&h=750&q=80&w=1125&s=fa2fce63dfde7da177148c0e92116e0e) ](https://www.kelleydrye.com/viewpoints/blogs/trade-and-manufacturing-monitor/ustr-announces-final-tariff-rates-exclusions-and-tariff-rate-quotas) Trade and Manufacturing Monitor July 24, 2026 [ ](https://www.kelleydrye.com/viewpoints/blogs/trade-and-manufacturing-monitor/ustr-announces-final-tariff-rates-exclusions-and-tariff-rate-quotas)