Richard Berry, FINRA’s Executive Vice President and Director of Dispute Resolution, says the name change represents that his office administers disputes, rather than resolves them.
FINRA, the Financial Industry Regulatory Authority, is a government-authorized non-profit organization that works under the Securities and Exchange Commission (SEC) to protect investors and ensure market integrity. Authorized by Congress, FINRA oversees over 4,200 broker-dealers and more than 624,000 brokers.
FINRA Arbitration
Investors can resolve disputes with broker-dealers and their registered representatives through the FINRA arbitration process, which uses an independent third party. Arbitration can allow investors to recover losses while avoiding the time and cost of using the court system.
The arbitration process starts when the investor (claimant) files a Statement of Claim with FINRA that describes the dispute, parties involved, and amount of money sought, along with supporting documentation. FINRA will serve the Statement of Claim on the respondents and determine the number of arbitrators.
FINRA recommends that investors consider hiring an attorney to represent them during arbitration or mediation proceedings. Brokerage firms will be represented by an attorney and having expert guidance can be invaluable.
Experienced FINRA Arbitration Attorneys
Silver Law Group represents investors in FINRA arbitration cases for securities and investment fraud. Our lawyers are admitted to practice in New York and Florida and represent investors nationwide to recover investment losses due to stockbroker misconduct and other causes. If you have any questions about how your account has been handled, call to speak with an experienced securities attorney. Most cases are handled on a contingency fee basis, meaning that you won’t owe us until we recover your money for you. Contact us today and let us know how we can help.