How does FINRA investigate and adjudicate disputes?
FINRA, or the Financial Industry Regulatory Authority, has the responsibility of investigating and resolving disputes between and regarding securities in Washington. FINRA uses its dispute resolution program to handle disputes, with the goal of providing an independent, fair, and efficient system for resolving them. The program works by providing investors with an alternative to going to court to settle disputes. If a dispute is registered, FINRA will investigate the issue, reviewing relevant documents and interviewing witnesses as needed. During the investigation, FINRA will gather evidence and analyze facts to determine if there are violations of securities laws or regulations. Depending on the results of the investigation, the matter may then be referred to a FINRA panel of arbitrators. The panel of arbitrators will listen to both sides and come to a resolution that is binding and final, allowing at least one party to close out the dispute. This decision may involve an award of money or other forms of relief, such as reinstatement of employment of regulatory review. In some cases, FINRA may also require corrective action taken by the parties involved. FINRA enforces the decisions of the panel and aims to facilitate the resolution of disputes quickly and efficiently, without it needing to go to court. In this way, FINRA works to ensure that Washington investors are treated fairly and disputes are resolved quickly.
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