The hearing panel agreed, but said the Federal Arbitration Act prevented FINRA from enforcing those rules.

FORBES: Small Investors Smacked Down, One More Time, in Schwab Ruling

In the United States both secular and religious arbitration are firmly established, operating under a Federal Arbitration Act that gives robust standing to the procedure but also allows the parties to counter-appeal to ordinary courts on certain grounds (though America's church-state separation stops courts hearing arguments about doctrine).

ECONOMIST: Sharia in the West