If you’ve experienced losses due to your financial advisor’s negligence, you can hold them accountable and recover your losses. Most investment disputes are resolved through FINRA arbitration rather than filing a lawsuit. A FINRA arbitration lawyer serving Missouri will help you file a claim.
We dedicated our legal practice to protecting the rights of investors. At Meyer Wilson, we only handle securities fraud claims. Over the years, we have secured more than $350 million for our clients, and we continue to fight for maximum compensation for each case. You can trust our FINRA arbitration lawyers to represent your best interests. Call us for a free consultation.
FINRA Arbitration Explained
The Financial Industry Regulatory Authority (FINRA) is tasked with overseeing brokerage firms. This non-profit organization protects investors by making sure that the securities industry functions fairly.
As experienced investment fraud lawyers, we have represented a wide range of FINRA arbitration cases, such as:
- Failure to supervise
- Unauthorized trading
- Breach of fiduciary duty
- Ponzi schemes
- Fraud
- Misrepresentation
FINRA arbitration is a platform for resolving disputes between brokerage firms and investors without presenting the case before a judge and jury. It is more efficient than the traditional legal process and is specifically designed for investment disputes.
An impartial arbitrator or a panel carefully listens to what each side has to say. They review evidence, hear out witnesses, and finally make a decision on the matter. This final decision is binding.
Navigating the FINRA arbitration process alone is very risky. Collaborate with an experienced Missouri FINRA arbitration attorney to protect the value of your claim. While the process may seem complicated, if you work with us, we can simplify it.
Recover Your Losses After Investment Fraud Through FINRA Arbitration
When you open a brokerage account, the documents you sign typically require that any disputes be settled through arbitration rather than through the court. This means you generally waive your right to bring a lawsuit against the at-fault party, opting instead for the arbitration process.
The majority of investment negligence cases are solved through arbitration because it is often faster than going to trial. Brokerage firms also favor this method due to its privacy. The hearings are kept private, and only the final award is made public.
Our Missouri FINRA Arbitration Attorneys Will Help You Navigate the Process
The FINRA Code of Arbitration Procedure outlines the steps and rules involved in the arbitration process. It details the types of cases eligible for this type of dispute resolution and specifies the time limits for filing the documents.
The Code also explains the selection process for arbitrators and their responsibilities, as well as the procedures for gathering evidence and conducting hearings. This framework is designed to ensure that disputes are resolved fairly and efficiently.
Filing a Claim
The arbitration process starts with the filing of a statement of claim. This document outlines your account of the events and explains why you are seeking financial compensation. It serves as the initial impression the arbitrators will have of your situation.
Our FINRA arbitration attorneys serving Missouri will make sure you give a clear and accurate statement. We aim to present a comprehensive picture of the events and how these impacted your life. As your lawyers, we will show why you deserve compensation to the arbitration panel.
The statement of claim must be filed online, along with a fee, to start the arbitration process. Once this step is completed, the negligent financial advisor must reply within 45 days.
Participating in the Arbitration Hearing
The type of claim determines the arbitration process. Claims below $100,000 are usually considered small and are typically handled by a single arbitrator. If your claim is under $50,000, decisions are often based solely on the submitted statements and responses.
Claims over $50,000 or $100,000 require an arbitration hearing. During this, witnesses testify and present evidence. When a panel of arbitrators is involved, the decision is made by majority vote.
The duration of the arbitration process varies depending on the specifics of each claim. It may take about a year or longer from the time you file your documents. Smaller claims could be resolved in a matter of days, while larger cases may take several weeks. At Meyer Wilson, we understand the urgency of the situation and do everything on our end to make the process go smoother.
The Decision
The decision reached in arbitration is final and generally cannot be contested, making the outcome binding and obligatory for both parties. After the decision is made, the FINRA administrative staff and arbitrators prepare an award document. This formalizes the decision and details the specifics of the case’s outcome.
Important information from the award document includes:
- The parties involved
- The type of claim
- Defenses presented
- The outcome
- The award to be paid
If we are successful, the negligent party has 30 days to pay you. Should they refuse, our attorneys may request the suspension of their professional license. Also, we may initiate attachment levies and garnishment proceedings to get you the compensation you need for a better future.
Our Experienced Missouri FINRA Arbitration Lawyers Will Help
Facing a brokerage firm or professional financial advisor can be stressful. You should not navigate this process alone. Partner with a FINRA arbitration attorney serving Missouri to recover your losses.
The experienced team at Meyer Wilson has assisted thousands of clients in fighting for a financially secure future. Contact us today to discuss your strategy and take the first step towards reclaiming your financial stability.