Options for Resolving Disputes

Coherent with the regulatory implementations of the International Securities Trade Agency, and as recommended by local assessment centers, the International Securities Trade Agency has developed and implemented this directive on the utilization of options for resolving disputes and strategies to address suitable disputes in a reasonable, judicious, and cost--‐effective approach.

Previously, in addressing the directive on resolving disputes, the International Securities Trade Agency published a statement inviting interested parties to send feedback on the utility of implementation of dispute resolution procedures in the International Securities Trade Agency programs and activities to assist the International Securities Trade Agency in its endeavor to produce suitable policies.

All feedback received referred to the International Securities Trade Agency's regulatory duties and enforcement actions and were evaluated in making the final regulatory statement.

The directive is about the options for resolving of disputes through easy, deliberate, mutual approaches such as conciliation, primary unbiased assessment, mini trials, the utilization of imbues, arbitration and other techniques. The International Securities Trade Agency is dedicated to the utility of optional dispute resolutions as an administrative tool to address disputes at an early phase, in an prompt, cost effective, and reciprocally acceptable way. The International Securities Trade Agency implements this policy to acknowledge its full support for the appropriate use of options for resolving disputes.

This directive is aimed applying to the determination of disagreements in contractual obligations, arguments in legalities, and internal differences, such as those between employees and administrative bodies. It is not aimed for application to examinations and regulatory enforcement assessments.

Additionally, a couple of issues make legalities problematic enforcement of the regulatory securities laws generally unsuitable for dispute resolution techniques. There is a need to make sure that the regulatory enforcement capability is not affected, and the need to make sure for unbiased treatment, and the need for official resolution or precedent. This directive is also not aimed for application to scenarios where the International Securities Trade Agency requires a temporary restraining order.

Any use of options for resolving disputes by the International Securities Trade Agency will be administered by certain key standards. Principally, any International Securities Trade Agency dispute resolution program must advocate the agency’s mission of governing the regulatory and securities laws and taking care of the investing public.

While the International Securities Trade Agency will consider resolution options in any dispute in which an agreed outcome is a possibly amenable conclusion, the International Securities Trade Agency believes that not every dispute is applicable for closure through optional dispute resolution.

Additionally, while dispute resolutions techniques are a significant factor in the International Securities Trade Agency’s capacity to iron out disputes, the International Securities Trade Agency believes the procedures are complementary to, not a dislodgment of, conventional adjudicative techniques of ironing out disputes. For that reason, the International Securities Trade Agency will utilize optional dispute resolution only after finding out that dispute resolution is suitable in a specific case.

Furthermore, the International Securities Trade Agency distinguishes that its dispute resolution rules and strategies must be adaptable enough to match the multiplicity of disputes that the International Securities Trade Agency manages, the changing court--‐based dispute resolution activities, and continuing legislative modifications and programmatic apprehensions. To that purpose, the International Securities Trade Agency believes that its dispute resolution program should be active and continuously improving.

In renewing of its dedication to dispute resolution options, the International Securities Trade Agency has implemented and will maintain its implementation of several confirmatory strategies to encourage the use of dispute resolution techniques. The International Securities Trade Agency necessitates that each agency designate an agency specialist.

The specialist is sanctioned to design dispute resolution option strategies and workflow; confer with the staff on individual disputes regarding the appropriate use of dispute resolution; create conflict administration and deterrence activities; track application and examine dispute resolution strategy implementation and outcome; identify appropriate resolution--‐ related orientation within the International Securities Trade Agency to teach employees and disputants about the strategy and conflict administration options and procedures; proposition for availability to unbiased third parties; and ensure that options are designed to provide incentives for the suitable use of dispute resolution.

The International Securities Trade Agency has started and will maintain to offer dispute resolution learning sessions for executives, administrators and other stakeholders recognized as benefiting from the learning program, so that they will appreciate the suitable use of dispute resolution, its possible benefits, and how to procure support. The International Securities Trade Agency will, as necessary, also supply specific employees, including legal and contract officers, with learning sessions in dispute resolution advocacy strategies.

The International Securities Trade Agency acknowledges that the productive use of dispute resolution processes is reliant on practical guarantees of confidentiality to safeguard the procedures. This standard is acknowledged and executed by provisions of regulatory compliance laws. In view of that, in relation to the dispute resolution policy implemented herein, the International Securities Trade Agency implements a rule of discretion coherent with provisions of the regulatory compliance rules. Also, the International Securities Trade Agency consents not to publish procedure in opposition to any participant in a dispute resolution proceeding, including any unbiased components used by these dispute resolution systems, or to require information or documentation received by the participants in relation to such proceedings. The International Securities Trade Agency also orders that members of the staff, who may obtain information or documentation in relation to any matter submitted to dispute resolution, not reveal such information and documentation under any situation contradictory with the confidentiality provisions set forth.

The International Securities Trade Agency provides that, except in certain restricted scenarios, neither an unbiased nor the parties to a dispute may willingly share or through obligatory procedure be compelled to share any oral or written discussion documented for the reason of a dispute resolution activities. To the point disclosure is allowed in relation to exclusion, members of the staff may not share or utilize such information or documentation for any reason other than in relation to one’s authorized tasks or accountabilities. Breach of this ruling may result in penalties. This ruling on discretion does not thwart the detection or tolerability of otherwise detectable proof in any administrative or legal discussion simply because the proof is shown in a proceeding utilizing dispute resolution processes.

It is the accountability of all International Securities Trade Agency employees to execute and observe this ruling and to implement and encourage cost--‐effective dispute resolution in International Securities Trade Agency programs and other areas of International Securities Trade Agency activities. All administrative staff and employees of the International Securities Trade Agency are hereby ordered to take the required procedures to observe this policy and to coordinate to the fullest extent with the specialist and his/her designee to encourage effective and suitable utilization of dispute resolution at the International Securities Trade Agency in furtherance of this ruling. The purpose to utilize dispute resolution in any specific scenario rests with the head of the office involved.

This regulatory statement is aimed only to enhance the internal administration of the International Securities Trade Agency in handling disputes. It shall not be interpreted as establishing any feature or advantage, substantive or procedural, enforceable at law or in equity, by any person against the International Securities Trade Agency or its employees. This regulatory statement shall not be interpreted to establish any right to judicial evaluation involving the compliance or noncompliance of the International Securities Trade Agency or its employees with this ruling.

Nothing in this regulatory statement shall be interpreted to necessitate the International Securities Trade Agency to supply funds to close any case, to receive a specific agreement or resolution of a dispute, to change its standards for accepting and forging agreements, to acknowledge binding arbitration, or to change any existing endorsement of settlement or legal authorization.

For questions and assistance on regulatory statements, rulemaking and implementations, please contact the International Securities Trade Agency.