Securities Arbitration Reform Act of 1988

Securities Arbitration Reform Act of 1988 - Amends the Securities Exchange Act of 1934 to prohibit securities brokers and dealers and municipal securities dealers from entering into agreements with customers to arbitrate future disputes unless such agreements are entered into in accordance with procedures prescribed by the Securities and Exchange Commission (SEC) to afford the customer the opportunity to make an informed and voluntary decision. Requires the SEC to prescribe such procedures. Sets forth the minimum requirements for such procedures. Specifies that any arbitration agreement that is not in accordance with SEC procedures shall be considered void.

Includes as a requirement for the registration of an exchange as a national securities exchange the requirement that the rules of the exchange provide for the fair, equitable, and expeditious resolution of controversies and disputes between customers and members or persons associated with members. Specifies certain minimum requirements which must be incorporated as part of such rules. Sets forth similar requirements with respect to the registration of associations of brokers and dealers as a national securities association.

Voids any conditions, stipulations, or provisions binding any person to waive any rights or remedies provided by the Securities Exchange Act of 1934 (or any rules promulgated under such Act or the rules of a self-regulatory organization) except as part of a predispute arbitration agreement which conforms to the requirements of this Act.