You want to believe that the brokerage firms and financial advisors that you work with will prioritize the health of your investments. If you discover that these parties have instead put your financial well-being at risk, it’s natural to feel betrayed. Fortunately, Alabama FINRA arbitration lawyers can help you recover.
You have the right to hold brokerage firms and financial advisors responsible for their misuse of your investments under FINRA’s Code of Arbitration. Meyer Wilson can connect you with an Alabama investment fraud lawyer who can represent your best interests in out-of-court arbitration cases. Our team has over 75 years of legal experience helping investors like you address a partner’s risky financial behavior. Call today.
Alabama FINRA Arbitration Lawyers Tackle Several Types of Fraud
Connecting with brokerage firms, advisors, and other financial professionals puts you in a complicated relationship with those entities. You need a third party like the Financial Industry Regulatory Authority (FINRA) to make sure that relationships between you and all of these parties remain ethical.
FINRA specifically keeps conversations surrounding the ethical use of your investments out of the civil court system. Instead of going before a judge, you can manage conversations about a party’s use of your investments under the supervision of an Alabama FINRA arbitration attorney.
Working with FINRA allows you to keep conversations about the state of your finances private. It also allows you to regain control of your investments without investing in a civil investigation. Meyer Wilson can specifically connect you with:
- Breach of fiduciary duty lawyers
- Failure to supervise lawyers
- Unauthorized trading lawyers
- Inappropriate asset allocation lawyers
- Broker negligence lawyers
All of these parties can help you understand how a liable party violated their ethical responsibilities and what means FINRA gives you to recover.
Why Do FINRA Cases Resolve Out of Court?
FINRA cases are resolved out of court thanks to an agreement established by FINRA’s Code of Arbitration Procedure. When you enter into a relationship with a brokerage firm, advisor, or related financial party, you commit to keeping conversations about those investments private.
Our knowledgeable team can break down the impact the Code may have on your right to recover as our investigation into the misuse of your investments progresses.
Defining Your Claim
If you decide to move FINRA arbitration forward, you need to complete a claim that details the extent of your compromised funds. FINRA arbitration typically addresses one of three claims, all of which are defined by the value of the losses you’ve incurred.
- Minor claims address incidents where a liable party has compromised assets valued at less than $50,000. These claims most often take place via written communications mediated by an Alabama FINRA arbitration attorney.
- Small claims address incidents where a liable party compromises assets valued at between $50,000 and $100,000. These cases usually take place privately or in front of an arbitration panel.
- Large claims address incidents where a liable party compromises assets valued at more than $100,000. These cases typically take place in front of an arbitration panel.
Crafting Your Claim
Once you establish the value of the assets in question, you can complete your claim. The information you include in a finalized claim should cover:
- The identity of the liable party in question
- The nature of the fraud that compromised your investments
- The value of your investments
- Evidence of the negative impact the alleged fraud has had on your economic standing
Your attorney can file your claim, alongside a filing fee, to begin arbitration proceedings. The party you name liable for financial fraud has 45 days to respond to your accusations while an arbitration panel considers your findings.
Should a liable party acknowledge the fraud, you can expect to receive financial compensation based on your losses without an argument. If the liable party contests your accusations of fraud, arbitration begins in earnest. Our attorneys can prepare you for arguments about a partner’s ethical behavior as your case progresses.
What to Expect After FINRA Arbitration
FINRA arbitration differs from civil litigation in several key ways, including the way cases conclude. Civil courts allow participants to appeal decisions made by a judge. No party has the right to contest the decision made by an arbitration panel or related party when arbitration draws to a close.
This means that the decision a panel or other applicable party comes to is final. When your case concludes, you will receive a record of:
- The details outlined in your initial claim
- The parties involved in your case
- How those parties responded to accusations of fraud
- The case’s final ruling
- The compensation you stand to receive, if applicable
Should you stand to receive compensation from a liable party, that party must provide you with the requested funds within 30 days of your case’s conclusion. Parties that refuse to pay you what you deserve risk their brokerage licenses, as Alabama FINRA arbitration attorneys can petition to have those licenses revoked from uncooperative parties.
Your Recovery and FINRA Arbitration Privacy
As mentioned, one of the perks of FINRA arbitration is the privacy under which financial conversations take place. The general public will only learn about the award you receive once arbitration comes to an end. No other information about the parties involved in your case or the fraud in question will come forward unless you choose to disclose it.
You can count on our Alabama FINRA arbitration lawyers to maintain confidentiality as your case progresses and once it concludes. You can learn more about our privacy policy and those guidelines outlined in FINRA’s Code of Arbitration when you book a free case evaluation with our staff members.
Our FINRA Arbitration Lawyers in Alabama Want to Advocate for You
You don’t have to let brokerage firms or advisors get away with the unethical use of your funds. Meyer Wilson can connect you with a FINRA arbitration attorney in Alabama who can represent your best interests as you fight to restore your financial well-being.
You can contact us now to learn more about how our services can help you get your finances back on track. Your first consultation comes free of charge.