If you’ve suffered financial losses due to your advisor’s negligence, you have the right to hold them accountable and potentially recover those losses. Many investment disputes are settled through FINRA arbitration rather than going to court. A FINRA arbitration lawyer serving Washington, DC, can represent your interests.
At Meyer Wilson, we defend the rights of investors. Our firm focuses exclusively on securities fraud cases. Over the years, we’ve recovered over $350 million for our clients and continue to fight for maximum compensation in every case.
Trust our experienced Washington, DC, investment fraud lawyers to protect your interests. Contact us for a free consultation.
Understanding the FINRA Arbitration Process
The Financial Industry Regulatory Authority (FINRA) is responsible for regulating brokerage firms. As a non-profit organization, its mission is to protect investors by ensuring the securities industry operates fairly and transparently.
FINRA arbitration offers a streamlined process for resolving disputes between investors and brokerage firms or financial advisors without going through traditional courts. It is a faster alternative to litigation, specifically designed for investment-related conflicts.
Our investment fraud lawyers have handled a variety of FINRA arbitration cases, including:
- Ponzi schemes
- Churning
- Failure to supervise
- Unauthorized trading
- Fraud
- Misrepresentation
During arbitration, a neutral arbitrator or panel listens to both sides, reviews evidence, hears witness testimony, and delivers a binding decision.
Tackling the FINRA arbitration process alone can be risky. An experienced FINRA arbitration attorney serving Washington, DC, will protect your rights. While the process may appear complex, we will make it more manageable.
We Have Recovered Over
$350 Million for Our Clients Nationwide.
Recovering Losses Through FINRA Arbitration
When you open a new brokerage account, the paperwork you sign usually includes a clause requiring that any disputes be resolved through arbitration instead of through the court system. You generally give up the option to file a lawsuit against the responsible party, agreeing to resolve issues through arbitration.
Most cases of investment negligence are settled through arbitration and it tends to be quicker than a trial. Financial firms also prefer this approach because the hearings remain private, and only the final decision is disclosed publicly.
Our Washington, DC, FINRA Arbitration Attorneys Will Help You Navigate the Process
The FINRA Code of Arbitration Procedure sets out the guidelines and steps for the arbitration. It specifies which types of cases qualify for this form of dispute resolution and outlines the deadlines for submitting the necessary paperwork.
Additionally, the Code describes how arbitrators are chosen, their duties, and the processes for collecting evidence and holding hearings. This system is structured to ensure that disputes are handled in a fair and timely manner.
Filing the Claim
The arbitration begins with submitting a statement of claim, a document that outlines the details of your case and explains why you are seeking compensation. This serves as the arbitrators’ first impression of your situation.
Our Washington, DC, FINRA arbitration lawyers will keep your statement clear and precise. We provide a thorough account of the events and how they have affected you. As your legal representatives, we will present a strong case to the arbitration panel, demonstrating why you are entitled to compensation.
To initiate the arbitration process, file the statement of claim online with an associated fee. After submission, the negligent financial advisor has 45 days to respond.
The Arbitration Hearing
The arbitration process depends on the size of your claim. Claims under $100,000 are generally classified as small and are typically overseen by a single arbitrator. If your claim is less than $50,000, decisions are often made based on the written submissions alone, without a hearing.
For claims exceeding $50,000, an arbitration hearing is required. During the hearing, witnesses provide testimony and present evidence, and if a panel of arbitrators is involved, the final decision is reached by majority vote.
The length of the arbitration process varies depending on the specifics of each case. It could take around a year or longer from the time of filing. Smaller claims may be resolved within months. At Meyer Wilson, we recognize the importance of timely resolution and work to ensure the process moves as smoothly as possible.
The Binding Decision
The arbitration decision is final and typically cannot be appealed; it is binding and enforceable for both parties. After the ruling is made, FINRA’s administrative staff and the arbitrators draft an award document, which formalizes the decision and outlines the details of the case resolution.
Key details in the award document include:
- The names of those involved
- The nature of the case
- Types of defenses
- The outcome
- The award amount
If we win, the responsible party has 30 days to pay the compensation. If they fail to comply, we can pursue the suspension of their professional license. Additionally, our attorneys may begin attachment levies or garnishment proceedings to ensure you receive the compensation needed.
Our lawyers are nationwide leaders in investment fraud cases.
Call Our Experienced FINRA Arbitration Lawyers Serving Washington, DC
Taking on a professional advisor can be overwhelming. You don’t have to go into this battle alone. Work with a FINRA litigation lawyer to increase the chances of a successful outcome for your case.
At Meyer Wilson, our experienced team has helped thousands of clients pursue a financially stable future. Call us today to discuss your case and start your journey toward regaining control of your financial security.
Recovering Losses Caused by Investment Misconduct.