Securities Industry Committee on Arbitration

Securities Industry Committee on Arbitration (SICA)

A private group that provides mediation services in case of customer complaints against securities firms.

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Securities Industry Conference on Arbitration

An organization set up in 1977 to arbitrate disputes between and within self-regulatory organizations. SICA was designed to avoid the need for courts because the process of lawsuit can often take very long. SICA sets its own procedures, known as a Uniform Arbitration Code, which it periodically revises. Various SROs are members of SICA and sponsor its activities.