Securities Arbitration Procedure Manual

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For 36 years, Securities Arbitration Procedure Manualhas been the authoritative, go‑to resource for practitioners navigating the complex world of securities arbitration and mediation. First published in 1990 and meticulously updated every single year since, this three‑volume treatise by David E. Robbins stands unmatched in its depth, clarity, and practical guidance. Now in its 36th year of publication, the Manual remains the definitive text relied upon by attorneys, arbitrators, mediators, securities experts, regulators, and law school clinics nationwide.

A Comprehensive, Practitioner‑Centered Guide

Drawing on the author’s decades of experience as a Special Deputy Attorney General, arbitrator, mediator, expert witness, and leading practitioner, the Manual covers the full lifecycle of a securities dispute—from the first client call through final award and post‑award proceedings. Each chapter distills complex legal standards into practical, strategic guidance, offering tools practitioners can immediately apply to their cases.

The Manual’s robust coverage includes:

• Arbitration at FINRA and AAA
• Arbitrability and predispute arbitration agreements
• Case evaluation, damages, and defenses
• Attorney and expert considerations
• Discovery, evidence, motion practice, and hearing presentation
• Arbitrator selection and deliberation
• Securities mediation techniques
• Updated analyses on federal and state decisions, FINRA rule changes, RIA cases, Reg BI actions, class actions, insurance products cases, expungement, statutes of limitation, arbitrator sanctions, unpaid awards, and more

Every chapter begins with a detailed synopsis, enabling quick reference for busy practitioners. Annual updates ensure readers stay fully current with evolving rules, case law, and industry trends.

What Reviewers Say

Leading voices across the securities arbitration field praise the Manual’s authority, practicality, and enduring value:

“David Robbins is a national treasure… His book is an excellent reference tool - a compendium of keen insight, source material, and practical guidance.”
— Jeff Abrams, Esq., Abrams Mediation & Arbitration, Inc.

“An indispensable resource… one of the best professional investments I make each year.”
— Robert D. Lawson, Managing Principal, Barrington Financial Consulting Group, Inc.

“A master class in securities arbitration… a necessary presence on the shelf of any serious practitioner.”
— Professor Seth E. Lipner, Baruch College

The Securities Arbitration Procedure Manual has also been hailed by Securities Arbitration Alert as a “tour de force,” distinguished by its rigorous annual updates and the author’s decades‑long contributions to shaping the modern field of securities arbitration.

Why This Book Has Endured

Practitioners rely on the Manual for its:

• Balanced and pragmatic analysis of the issues facing customers, brokers, and firms
• Strategic guidance grounded in real‑world advocacy and arbitration experience
• Clarity and accessibility, making intricate concepts useable for practitioners at all levels
• Unique insight into FINRA, AAA, and federal court developments
• Tools to build empathy, credibility, and compelling case narratives—skills essential to success in arbitration

For more than three decades, this Manual has set the standard for excellence. Whether you represent investors, financial advisors, or firms—or serve as an arbitrator or mediator—Securities Arbitration Procedure Manual remains the essential resource for mastering securities disputes.

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Book Reviews

David Robbins is a national treasure for his vast contributions to the field of Securities Arbitration & Mediation. His book is an excellent reference tool - a compendium of keen insight, source material, and practical guidance for practitioners of all levels. I am pleased that David continues to update this classic book. It is as relevant and fresh today as when originally published.

—Jeff Abrams, Esq., Abrams Mediation & Arbitration, Inc.

The Securities Arbitration Procedure Manual has been invaluable to my work as a Securities Expert Witness and Consultant. Both in print and digital form, the Manual is an indispensable resource that I not only rely on regularly but also recommend frequently to colleagues in the securities industry serving as Arbitrators and Securities Experts.

The Manual's comprehensive coverage and practical guidance have made it my go-to reference for navigating complex arbitration procedures. It has proven itself time and again as an essential tool that enhances both the quality and efficiency of my work.

Without question, the Securities Arbitration Procedure Manual is one of the best professional investments I make each year.

—Robert D. Lawson, CSCP®, AIF®, CFE®, MRFC®, LUTCF®, Managing Principal, Securities & Insurance Litigation & Mediation Consultant , Barrington Financial Consulting Group, Inc.

David Robbins’ book is a master class in securities arbitration. David’s experience - as an advocate for both investors and the industry, as an arbitrator and a mediator par excellence - is unmatched. In chapter after chapter, David offers rules, explanations, and sage advice. The book is a necessary presence on the shelf of any serious practitioner. 

—Seth E. Lipner, Professor of Law, Professor, Baruch College

ROBBINS’ SAPM GETS NEW 2023 SUPPLEMENT. RELEASE 27 BRINGS FRESH UPDATES AND NEW MATERIAL. We just finished paging through the new supplement to David E. Robbins’ Securities Arbitration Procedures Manual (“SAPM”). The SAPM – a true tour de force – is now well over three decades in the making, starting publication in 1990 and continually updated by the author and practitioner over the years, as the practice evolves and new rules and procedures adjust to an ever-changing landscape.

Author Robbins, a long-time member of the SAA Board of Editors, has chronicled securities arbitration’s modern history and participated at the center of events and developments that have shaped it. This latest supplement is published by Lexis Nexis/Matthew Bender as “Release 27” and according to the author: “This new 2023 Release—for the 34th year of this book—updates and expands analyses of federal and state court decisions that impact securities arbitrations and mediations. Approximately 550 pages of text are added and revised, including comprehensive sections on over 30 years of petitions to vacate and confirm arbitration Awards (over 400 decisions), FINRA’s new Expungement Rules, the precedential value of arbitration Awards, the impact of the bankruptcy law on securities arbitration Awards, the SEC’s analysis of Registered Investment Adviser arbitrations, bond cases and proven techniques to best present your case to the arbitrators.”
(ed: *What has set SAPM apart and has made it the enduring leader in its field has been the dedicated efforts of its author to update and revise the book every year without fail and to inform those updates and revisions with the practical knowledge and observations of a versatile and respected practitioner. To us, David Robbins occupies a special place of honor in the field of securities arbitration.

—George H. Friedman, Editor-in-Chief, Securities Arbitration Alert 2024-01 (1/4/2024)

Perhaps the first thing one realizes as you pore through David Robbins’ Manual is that it’s backed by practical experience. David has done it all, when it comes to securities arbitration practice. He approaches each subject with perspectives gained from serving as an attorney in the field, as an arbitrator for various forums, as a mediator, as an arbitration administrator, and an active participant in the rule making process. 

How can such a tireless advocate for the aggrieved investor excel as well in the neutral roles of mediator and arbitrator? Because David’s practice includes frequent engagements by brokers and by broker-dealers and RIAs, as well as customers. He remains ubiquitous on the arbitration scene and this eclectic and comprehensive approach to his art informs his writing and the sage advice he imparts to Manual readers. 

SAPM supplies attorneys new to the securities arbitration field with the tools and guidance they require, as they enter an arcane, sometimes quirky, field of practice; at the same time, the seasoned attorney finds a colleague with formidable credentials whose wisdom and observations inspire innovation and sharpen the most accomplished skills.

—Richard P. Ryder, Editor, Securities Arbitration Commentator (SAC)