; (2) be granted access to the list of investors (beneficial owners) maintained by the trustee, on the condition that the independent third party will not make the list available to the investors (beneficial owners); and (3) have the right, on behalf of the investors (beneficial owners), to inform the trustee of such securities of any breach of the securitization agreement identified by the third party. (k) Mandatory Arbitration (1) In general All disputes between an owner of a qualified security and the qualified issuer of such security relating to representations and warranties shall be subject to mandatory arbitration procedures established by the Exchange, in accordance with current market practices. (2) Selection of Arbitrator Investors (beneficial owners) and issuers subject to a dispute described under paragraph (1) shall have the right to agree on an independent arbitrator. If the parties cannot agree on an independent arbitrator, the Exchange shall select an independent arbitrator for the parties. (3) Reporting Duty of Arbitrator (A) Upon Commencement The arbitrator shall provide the Exchange with notice upon commencement of any arbitration under this subsection. (B) Upon Conclusion Upon conclusion of any arbitration under this subsection, the arbitrator shall provide the Exchange with— (i) the decision reached by the arbitrator; and (ii) the basis for the arbitrator’s decision, including any evidence or testimony received during the arbitration process. (l) Use of standards In developing, adopting, and publishing the initial standards required under this section, the Exchange shall, to the extent practicable, utilize the standards finalized by Common Securitization Solutions pursuant to section 314(a). (m) Timing of issuance; Agency review