You trust financial advisors with your future. You shouldn’t have to worry about how you’re going to make ends meet when those advisors prioritize their well-being over yours. If you’re dealing with the aftermath of financial negligence or malfeasance brought on by someone responsible for your financial well-being, you can contact a Maryland FINRA arbitration lawyer for support.
Meyer Wilson, recognized by Best Lawyers in 2024, knows how to tackle your FINRA arbitration case. Our investment fraud lawyers in Maryland want to help you recover the money you lost due to someone else’s negligence. Are you ready to take action? You can contact a FREE case evaluation with our team today to learn more about your right to recover.
What Is FINRA and FINRA Arbitration?
The acronym “FINRA” stands for “The Financial Industry Regulatory Authority.” This entity exists as a non-profit organization designed to prevent brokers and other financial professionals from abusing the trust placed in them by investors.
When you choose to engage in FINRA arbitration, you can avoid going to court to address the severity of your losses. Instead, you can work with a Maryland FINRA arbitration attorney to resolve your financial confusion through mediated conversations. This process can save you time and money while still preserving your right to recover your compromised funds.
When you call on a FINRA arbitration lawyer, you work with a financially-fluent professional to address instances of negligence like the following:
- Inappropriate asset allocation
- Broker negligence
- Breach of fiduciary duty
- Failure to supervise
- Unauthorized trading
The attorneys with Meyer Wilson bring decades of knowledge to bear when addressing cases like these. If you have questions about our experience or want to know whether or not we can help you recover, you can meet with our team for free.
How is FINRA Arbitration Regulated?
FINRA arbitration takes place under the guidance of the FINRA Code of Arbitration Procedure. Any financial parties, including investors, agree early in the relationship with a brokerage firm that disputes that arise during a business relationship will face resolution through arbitration. This guarantees that proceedings stay out of the civil system.
That said, the FINRA Code of Arbitration Procedure specifies what cases it will address via arbitration. You can refer to this code to determine whether or not you have the right to request arbitration and when you need to file a relevant claim.
Should you want to explore your right to arbitration but not have the time or the familiarity to interpret the code, you can ask an attorney to do so on your behalf.
What Should You Expect From a Maryland FINRA Arbitration Lawyer?
If you signed an investment agreement upon investing your money with a brokerage firm, you may not have the right to bring concerns regarding the firm’s unethical behavior forward in civil court. This means that if you want justice for your losses, you need to work with a FINRA arbitration attorney to initiate FINRA arbitration.
Fortunately, FINRA arbitration has its benefits. Experienced financial attorneys can help you recover damages within a year and a half of your initial losses. We do so by mediating conversations between yourself and a negligent party. It’s our job to recenter the ongoing conversation on the reality of your losses and your desired recovery.
FINRA arbitration allows you to retain a degree of privacy when addressing your financial concerns. You can trust your attorney to compile a claim and argue on your behalf and to keep proceedings discreet.
How Do You Create a Statement of Claim Ahead of FINRA Arbitration?
If you want to initiate the arbitration process against a broker, you need to file a statement of claim. A statement of claim goes into detail about the nature of the negligence driving you to begin arbitration. As such, a statement needs to include evidence of financial misconduct in violation of the agreement you made with a brokerage.
Alternatively, your statement needs to go into detail about the degree of negligence that’s impacted your financial well-being. You can work with an experienced lawyer to outline the specific negligence you believe has compromised your financial future.
You can then submit your claim to an arbitration panel alongside a filing fee. A brokerage firm has 45 days to respond to your claim after you file it, during which time you can prepare for formal proceedings.
What Should You Expect From FINRA Arbitration Proceedings?
You can expect your experience with arbitration proceedings to vary depending on the size of your claim. Claims tend to break down as follows:
- Small claims allow you to recover less than $100,000 while working with a single arbitrator
- Large claims allow you to recover more than $100,000 and may involve a trial with a majority vote determining your right to recover
Claims valued at less than $50,000 often do not go before arbiters but rather resolve based on an exchange of messages between an impacted party – you – and a brokerage firm. Our attorneys oversee this exchange and help you communicate why you believe you deserve to be compensated for a firm’s misconduct.
How Can a FINRA Arbitration Lawyer Help Protect Your Financial Future After Your Case Concludes?
Once you conclude a FINRA arbitration, the decision regarding your right to damages is final. Neither you nor any of the other parties involved in the process have the right to appeal the decision made by an independent arbitrator or panel.
Your Maryland FINRA arbitration lawyer will then ensure that you receive documentation about the parties involved in the arbitration process. You can refer to this documentation to reiterate why you brought a claim forward, how a defendant attempted to justify their behavior, and who came away from the claim the victor.
Our documentation also ensures that there is a written record of the award you stand to receive. The brokerage firm involved in your case has 30 days from the conclusion of that case to offer you the support you deserve. If the firm fails to do as expected, our team can step in and petition to have the brokerage’s license revoked.
In other words, while attorneys may not have the right to appeal a board’s decision, our work doesn’t stop when your case concludes. We keep a wary eye out for mischief and continue to work on your behalf until the money you deserve is in your hands.
Contact an Experienced Maryland FINRA Arbitration Lawyer Today
You have the right to reclaim lost compensation in the wake of someone else’s financial fraud or negligence. This process is easier when you have an experienced FINRA arbitration lawyer on your side. Our FINRA arbitration lawyers in Maryland can help you hold mediated conversations that can restore your financial well-being.
Meyer Wilson brings over 75 years of experience to your pursuit of financial support. You can schedule a free case evaluation with our legal staff today to learn more about how our services may benefit you. Contact us now.