Scott engages in a nationwide mediation practice primarily focused in the financial services industry, especially concentrated in customer disputes, both in the FINRA Dispute Resolution Forum and state and federal courts. Scott's years of experience as a commercial litigator, business executive and business consultant have been instrumental in developing his facilitation skills earning him a reputation as an extremely efficient and effective mediator. While capable of serving as mediator in a wide range of cases, Scott's years of experience serving as litigation counsel to one of the country's leading annuity and insurance companies have provided him a rare skillset that makes him uniquely qualified to handle matters in the highly specialized and regulated financial services industry.
Scott appreciates the importance of the dispute resolution process. And while he finds mediation the desired option in the ADR toolkit, he takes an active and involved approach in every case, whether as an arbitrator, facilitator, or mediator. Having handled over 600 securities cases over his career, Scott believes that the ADR system utilized in the financial services industry is more cost efficient, streamlined and effective, favoring all parties but especially the investors (customers) who are bringing the claims into what he believes is a less burdensome process.
Securities mediation is a confidential process and it is non-binding on the parties. Mediation can typically be done in a day long single session, but Scott is committed in every case to working with the parties for as long as it may take to reach a resolution. Scott believes that a critical factor for the parties to consider in deciding to engage in mediation is that the process is completely controlled by the parties, typically through their respective legal counsel, and that means the parties maintain control over the outcome of their case, as opposed to allowing a final decision to be left to the unpredictability of an arbitration panel or a court.
Scott believes that the relationships he has developed over many years with counsel and industry experts across the country who specialize in the financial services industry brings unique value to the mediation process. Scott believes those relationships bring credibility to the process and enhances his effectiveness in assisting the parties in reaching a resolution short of having to invest the time, financial resources (not to mention the emotional toll), in a full arbitration hearing or trial. Scott’s value to the dispute resolution process is also founded on years of experience from his role as deputy general counsel for a multi-firm broker-dealer network, where he engaged on a daily basis on significant compliance matters, including supervision, recruiting, termination, investment products, fraud investigations, among others; he believes the years he spent in that role brings the specialized insight needed to address issues that arise in many cases.
Involved in hundreds of mediations as legal counsel on both sides of the matter – thoroughly understands defense and plaintiff perspective, as well as the perspectives of key decision makers engaged in the process; worked with the experts, insurance representatives and compliance representatives throughout the country:
- Successfully reached resolution in over 500 Financial Industry Regulatory Authority (FINRA) matters
- Tried over 60 cases in state and federal court
- Former prosecuting attorney for the state of Michigan; specialized in financial crimes
- Business Commercial
- Litigated a wide array of business, banking, and commercial disputes including actions among partners/members/shareholders in closely held companies, shareholder derivative claims and direct claims for fraud, breach of fiduciary duty, usurpation of corporate opportunities, corporate waste, dissolutions, non-compete and non-solicitation claims, breach of contract and business torts among a broad range of industries.
- Litigated and mediated hundreds of Financial Industry Regulatory Authority (FINRA) arbitration cases throughout the country involving customer-broker disputes and disputes among and between broker dealers and registered representatives
- Litigated and mediated securities class actions
- Litigated shareholder derivative actions
- Mediated claims under a variety of state blue sky laws
- Mediated and arbitrated dozens of Ponzi scheme type cases
- Mediated and arbitrated numerous broker-dealer employment related claims; promissory notes, termination, discharge, Form U4/U5 reformation
Scott Forbush planned to follow in the footsteps of his father, who spent his career with the Cadillac Division of General Motors, while also being an attorney. Forbush pursued a business degree in Finance at Michigan State University; and after graduation, was offered a position with GM in its finance division. But he instead relocated to Alabama to work in a Cadillac dealer network. Seven months later, he returned to Detroit and applied to law school.
Forbush pursued a career in the courtroom first as a prosecuting attorney for the state of Michigan. Forbush then spent the next 12 years as a trial lawyer for Foster Swift in Lansing starting in 1993; then in 2005 was recruited to join Jackson, a leading annuity and insurance provider. In that time, Forbush held two parallel positions: AVP: Investigations, Regulatory Enforcement and Litigation; and Vice President for National Planning Holdings, a sister company to Jackson where he was deputy general counsel for their independent securities broker-dealer network consisting of four firms and over 3,200 financial advisors.
He collaborated with senior management and numerous teams, including compliance, supervision, product due diligence, governance, audit and surveillance. He consulted on day-to-day developments creating potential risk/exposure and offered strategies for addressing escalated matters sensitive to business operations. He was especially involved in resolving customer disputes on a daily basis.
In 2021, Forbush returned to Foster Swift as a litigator in the firm's Lansing office where, among other activities at the firm, he focuses his practice on alternative dispute resolution, primarily concentrated in the financial services industry. Scott also has experience as a business consultant, serving a variety of clients including complex, national organizations, law practices and state agencies.
Scott offers in-person mediations, however, many do opt for virtual mediation. In those cases, we do use Zoom.
ASPECTS OF ZOOM MEDIATION/ADR:
- Host (mediator) to provide meeting link to all parties participating
- Ability to screen share for each participant to review documents
- Mediator can use DocuSign to execute binding settlements
- Participants can use Dropbox to share documents
- Mediator has ability to create breakout rooms for private conversation
- Zoom security ensures data is safe and privacy is maintained
Ways to Schedule Mediation:
Scott R. Forbush
FAQs of Scott
What types of cases do you mediate?
“I’ve handled hundreds of securities cases—mostly customer driven—over the years and the ADR system employed in that area of dispute is more cost efficient, streamlined and effective. I think that favors all parties, but especially the investors who are bringing the claims into a less burdensome process."
How do I retain you?
"We start with an email communication or a phone call, run a conflicts check and then decide the best course of action in which to confirm an engagement."
Where do you mediate?
"Anywhere in the US. I have been engaged in cases all across the country. Mediations can also take place in-person or via Zoom virtual conferencing."
What can you do when the parties aren’t able to travel?
"Zoom is a proven tool to facilitate virtual mediation."
What is your background?
"I was a prosecuting attorney for the state of Michigan, specializing in financial crimes. I then spent 12 years as a trial lawyer for Foster Swift in Lansing; then in 2005 was recruited to join Jackson, a leading annuity and insurance provider. In that time, I held two parallel positions: Assistant Vice President: Investigations, Regulatory Enforcement and Litigation; and Vice President for National Planning Holdings, a sister company to Jackson where I was deputy general counsel for their independent securities broker-dealer network consisting of four firms and over 3,200 financial advisors."