At Meyer Wilson we often get asked, "If it has been a year or more since my accounts lost money, can I still have my case reviewed?"
More than likely, your investment misconduct claim will be handled through arbitration. This is because when you signed paperwork with your financial professional and opened your account, there was likely a provision in the paperwork saying you agree to bring disputes in arbitration, waiving your right to go to court.
For the most part, arbitration is an efficient, cost-effective way for investors to resolve disputes with their financial professionals. But like any dispute resolution method, there are time constraints for bringing a claim. In many cases, potential clients don't come to us until years later. This is because it often takes a significant amount of time to see the effects of investment misconduct.
The rules of FINRA arbitration allow claims to be filed within 6 years from the date of the transaction / occurrence giving rise to the claim.
So, we have the potential to pursue claims going back 6 years, but it is often more complicated than that. There are other legal and procedural factors to consider that may limit or extend the timeframe to pursue a claim.