He has served as chairperson on more than 250 arbitration cases at NASD, NYSE, and AAA. He has been a mediator with NASD since the inception of its program, and currently his practice is entirely dedicated to securities-related mediations. Since 1993, Mr. Herschman has been an arbitrator co-trainer for NASD's Basic Panel Member training program. He authored this article using his insights from conducting these training programs and from his extensive mediator and arbitrator experience.