The Financial Industry Regulatory Authority (FINRA) allows clients to collaborate with financial advisors and brokerage firms to protect their assets. If you believe the parties you’ve invested with may be misusing your funds, you can connect with a South Carolina FINRA arbitration lawyers to take action.
Meyer Wilson makes it easy for you to get justice for your losses without going to civil court. Best Lawyers recognized our staff’s outstanding dedication to our clients in 2024, highlighting the team as one of the best to provide in-need parties with legal support. Contact us to book a free case evaluation with a South Carolina investment fraud lawyer now.
What is FINRA Arbitration?
FINRA arbitration is a broad term for the oversight FINRA uses to take action against negligent or fraudulent financial entities. This oversight ensures that clients like you can reclaim their investments and damages in the face of a brokerage firm’s unethical practices. Moreover, this oversight allows you to keep conversations about financial discrepancies private.
Pursuing FINRA arbitration allows you to point out a firm’s financial negligence without going to civil court. An attorney from our firm can arrange conversations between you and a negligent party, during which you can argue for your right to compensation based on your compromised investments.
Our staff knows how to escalate larger claims before an arbitration panel should the need to do so arise. We can connect you with a range of professionals based on your specific needs, including the following:
- Breach of fiduciary duty lawyers
- Failure to supervise lawyers
- Unauthorized trading lawyers
- Inappropriate asset allocation lawyers
- Broker negligence lawyers
FINRA Arbitration Versus the Civil Process
The civil process helps the average person take legal action against someone whose negligence has done considerable damage to their financial health. FINRA arbitration fills a similar role but with greater privacy.
FINRA’S Code of Arbitration Procedure specifically ensures that arbitration lawyers can meet with offending brokerage firms and advisors outside of the civil system. This allows lawyers to exhibit more control over conversations between impacted parties and unethical financial institutions.
You can connect with an attorney today to learn more about how the Code of Arbitration Procedure may impact your fight to recover your investments.
How to Initiate FINRA Arbitration
If you want to kick off FINRA arbitration, you can work with a South Carolina attorney to gather information about:
- The fraud in question
- The impact that fraud has had on your investments
- What evidence you have of the alleged fraud
- Your desired compensation
You must pay a filing fee to bring a completed claim forward before an arbitration panel. Once you file your claim, the party you name in your case has 45 days to respond. Our team can keep you up to date on any developments that arise in that 45-day period.
What Claim to File to Start FINRA Arbitration
The claim you bring against an unethical brokerage firm, or advisor will vary in type based on the value of a liable party’s alleged fraud. For example, most panels classify cases involving less than $50,000 as minor claims. Most of the time, our South Carolina FINRA arbitration lawyers will resolve minor claims through written communication and without going before a panel.
Claims involving more than $50,000 but less than $100,000 are classified as small claims. Comparatively, large claims involve assets valued at $100,000 or more.
Planning Your FINRA Arbitration Timeline
FINRA arbitration does not conclude on a set timeline. Every case is different and will conclude in its own time. Minor cases or smaller cases tend to resolve faster than larger claims, but a liable party may still draw the process out.
In general, our FINRA arbitration lawyers serving South Carolina conclude their cases a year and a half after beginning proceedings. During a free evaluation with our staff, you can ask us for more information about our expectations for your case.
What to Expect After Completing FINRA Arbitration
The decision that an arbitration panel makes upon the conclusion of your case is final. Neither you nor the party involved in arbitration alongside you have the right to appeal the panel’s decision. This is the case regardless of the size of your claim.
Upon the conclusion of your case, an arbitration panel can provide you with documentation naming the party you engaged with and the fraud they allegedly engaged in. You can then read about how the accused challenged those accusations of fraud and what compensation, if any, you received in the face of their unethical behavior.
The general public will only learn about the compensation you receive after FINRA arbitration wraps up. All of the other information related to your case stays private.
What to Expect From a Liable Party
Our team won’t leave you out to dry after your case concludes. The brokerage firm and advisors involved in your case have no more than 30 days to supply you with the funds you’ve won in arbitration.
Teams that fail to provide you with the support you deserve put their brokerage licenses at risk. If you do not receive the support you won in arbitration, let our team know. We can file for a license revocation in the face of their continued negligence.
Book a Consultation with a FINRA Arbitration Lawyer in South Carolina Today
You have the right to take action against a brokerage or advisor who compromises your trust. Our FINRA arbitration attorneys in South Carolina can help you recover investments without the stress of having to go to civil court. Meyer Wilson brings 75 years of experience to your effort to re-secure your finances.
You can book your first case evaluation with our team for free. Contact us today to set up an appointment.