Television Mirrors Reality: MockArb Gains Traction as Arbitration Claims Expand

Jay Rosen, Chairman Emeritus, Capital Forensics Inc., Corporate Counsel

January 30, 2017

On “Bull,” CBS television’s successful new weekly series, the fictitious Dr. Jason Bull is founder of a trial consulting firm that employs psychology, human intuition and high-tech data to understand jurors, lawyers, witnesses and defendants, and to construct effective narratives designed to help their clients win verdicts.

Although much of the courtroom drama and tactics showcased on “Bull” rely heavily on artistic license rather than realistic litigation strategy, the TV series’ underlying premise does mirror one current reality: that the art and science of what influences and shapes human opinion is gaining application and respect within the legal profession. In fact, some of the television show’s analytic methods are already being practiced, notably in commercial arbitration cases.

In the securities industry, for example, the increased market participation of institutional investors and high net worth individuals over the past decade has inflated both the average size and dollar value of transactions across all asset classes. Correspondingly, the economic stakes in legal filings for a broad range of infractions against brokerdealers and their investment advisors —frequently involving multi-million dollar claims — have fueled demand for a more strategic and thorough preparation for those arbitration proceedings, most of which are settled under the supervision of the Financial Industry Regulatory Authority (FINRA.)

Three years ago, in response to the growing number of FINRA arbitration claims in excess of $10 million, Capital Forensics developed a process to closely replicate arbitration (called “MockArb”) designed to help the accused parties—primarily large financial institutions—to gain deeper and more reliable insights into how FINRAapproved arbitrators might view and respond to a particular matter, and how the respondents might apply those insights to their arbitration strategy. READ MORE >