Do securities arbitration decisions become public records?
The answer to the question is yes, in general, securities arbitration decisions do become public records in Florida. This is because securities arbitration cases are heard in special tribunals that work under the auspices of the Financial Industry Regulatory Authority (FINRA). This means that the decisions made by the arbitrators are public, and must be reported to the National Association of Securities Dealers (NASD). The filings must be published in the NASD’s Electronic Bulletin Board, and can be found with other public records. Florida securities arbitration law also requires that if the decision concerns a broker or firm in the state, the decision must also be reported to the Florida Office of Financial Regulation. In other words, securities arbitration decisions in Florida are public records and can be accessed by anyone. This means that potential investors can review past decisions and better understand the potential risks and benefits of working with any particular financial institution. This understanding helps promote better investment decisions, while also providing a level of transparency that helps both investors and firms alike.
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