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.

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.