What is the FINRA dispute resolution process?
The Financial Industry Regulatory Authority (FINRA) provides a dispute resolution process for securities arbitration in Kansas. This process is used to resolve legal disputes between investors and brokers, as well as disputes between member firms and other members. The FINRA dispute resolution process is a voluntary process. Individuals or firms seeking resolution must file a Statement of Claim with FINRA detailing the nature of the dispute. They must also pay a filing fee and a hearing fee to FINRA. After receiving the Statement of Claim, FINRA will appoint a panel of three arbitrators who will then review the dispute. The arbitrators will then issue a Notice of Hearing to the parties involved, which outlines the date, time, and location of the hearing. The hearing will be conducted similar to a court trial and each party may provide evidence and witnesses to present their case. The arbitration panel will then make a ruling based on the evidence presented and the applicable laws. The FINRA dispute resolution process is designed to be a cost-effective and efficient alternative to court proceedings. Parties involved in a dispute may also negotiate directly with one another or choose mediation or a similar form of alternative dispute resolution. However, if the parties cannot reach an agreement, they can turn to FINRA to help resolve the dispute in a timely manner.
Related FAQs
How long does it take to resolve a securities arbitration claim?Is it possible to settle a securities arbitration claim before a hearing is held?
What evidence is needed to prove a securities arbitration claim?
Is a securities arbitration decision binding on the parties beyond the dispute at issue?
What types of claims can be brought in a securities arbitration?
Does securities arbitration provide the same protections as a court of law?
Is it possible to obtain a stay of execution on a securities arbitration award?
Is there a cost associated with resolving disputes through securities arbitration?
Are there any limitations on the amount of punitive damages available in a securities arbitration case?
What sanctions may be imposed in a securities arbitration case?
Related Blog Posts
A Guide to Understanding Securities Arbitration Law - July 31, 2023Navigating Your Securities Arbitration Case: Step-by-Step Guide for Investors - August 7, 2023
Securities Arbitration: How to Make the Most of Your Claim - August 14, 2023
Securities Arbitration 101: Understanding the Basics of Investor Claims - August 21, 2023
Explaining the Role of Arbitrators in the Securities Arbitration Process - August 28, 2023