What are the timelines for filing a securities arbitration claim?

The timelines for filing a securities arbitration claim in Florida vary depending on the specific case. Generally, the arbitration process begins when the claimant files a Statement of Claim with the Financial Industry Regulatory Authority (FINRA). The Statement of Claim must be filed within six years from the date of the alleged wrongful conduct. Once the Statement of Claim is filed, the parties to the dispute will be notified of the claim and given 30 days to respond. The Financial Industry Regulatory Authority (FINRA) then assigns a panel of arbitrators to review the case and hear the evidence. Any hearing or decision to begin arbitration must be done within two years from the date the claim was filed. The case will then go through a “Discovery phase” in which the parties will exchange relevant information related to the dispute. The Discovery phase must be completed within three months of the hearing date. Next, the parties will attend a Hearing Session, which is usually held within three to six months of the hearing date. During the hearing, the arbitrators will listen to the evidence presented by the parties and issue a final award. This award can include awards of compensatory damages, punitive damages, attorneys’ fees and costs, and interest. The whole process of filing a securities arbitration claim in Florida can take anywhere from six months to a year or more. To ensure that the process is completed in a timely manner, it is important to hire an experienced securities arbitration lawyer who can guide you through the required steps.

What are the timelines for filing a securities arbitration claim?

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