How do I initiate a securities arbitration claim?

In Virginia, initiating a securities arbitration claim involves filing a claim with the Financial Industry Regulatory Authority (FINRA). This is a private dispute resolution organization that is authorized by the Securities and Exchange Commission. The first step in the process is to submit a Statement of Claim to FINRA, which explains the dispute and identifies the parties involved. Proof of service must also be provided to FINRA containing evidence that each party involved has received a copy of the Statement of Claim. FINRA may also require an additional filing fee before the claim is accepted. Once the claim is accepted, the next step is to notify all affected parties in writing of the claim. This is often done through a FINRA-approved process server or by mailing the claim to each party’s last known address, as verified by FINRA. Next, the parties must choose an arbitrator. All arbitrators must be approved by FINRA, so the parties must work together to find a qualified arbitrator. Once this process is complete, hearings will be scheduled and arbitration proceedings will begin. At the hearings, the arbitration panel will hear each side of the dispute and decide upon a resolution. If either party is unhappy with the decision, they may appeal the decision in a court of law.

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How do I initiate a securities arbitration claim?

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