FINRA Arbitration Process. In a perfect world, all of your investments would go as planned, and you could trust those in the securities business to play by the rules. Instead of a judge, there is either a single arbitrator or a panel of three . If an investor believes that his or her broker defrauded or otherwise took advantage of them, they can file a claim to be arbitrated with FINRA. Stockbrokers and financial advisors can help investors manage their money more effectively. Obtaining and interpreting financial information from your broker and his or her attorney during discovery. However, with experienced counsel guiding you, the difficulty case be minimized as much as possible and the result can mean recovery of some or all of what you have lost as a result of someone else's wrongdoing. Visit our professional site », Created by FindLaw's team of legal writers and editors FINRA, or the Financial Industry Regulatory Authority, is a non-governmental, not-for-profit organization that seeks to protect investors by ensuring that the broker-dealer industry operates fairly and ethically. FINRA's arbitrators can issue monetary judgments and have the authority to order a broker to deliver securities to you if that is a just resolution of the case. This guide contains general information about FINRA and the arbitration process. For updates and guidance related to COVID-19 / Coronavirus, click here. People who have lost money on their investments or with underperforming portfolios, People who hired the wrong Financial Advisor. Securities Industry Essentials Exam (SIE), Financial Industry Networking Directory (FIND), Resources for Investors Representing Themselves. B. FINRA Rules 2080, 12805 and 13805 Governing Expungement of Customer Dispute Information A broker can seek expungement of customer dispute information by obtaining a court expungement order (1) by going through the FINRA arbitration process (and then obtaining a File a Claim. In March, a pair of former J.P. Morgan Securities brokers asked a court to nullify a high profile $19 million Finra panel arbitration award issued in February, alleging the arbitration process . | Last updated May 09, 2017. FINRA arbitration is "a rigged game!" contends Dale Ledbetter, a Fort Lauderdale, Florida-based attorney who has represented numerous advisors in arbitrations. After your FINRA arbitration claims have been filed, your case will proceed to what is called the "discovery" process. FINRA scheduled a Zoom arbitration hearing for August, but Legaspy filed suit against the agency, claiming the complexities of the case and the need for a translator would make remote proceedings . Investors who have suffered damages at the hands of brokerage firms must bring their complaints before FINRA or possibly other regulatory bodies for mandatory arbitration. Gathering and presenting robust, compelling evidence to support your claim. There are only very few circumstances in which an arbitration award can be challenged as opposed to court cases that may be subject to years of appeals.

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