What are the timelines for filing a securities arbitration claim?

In Georgia, the timelines for filing a securities arbitration claim depend on the type of claim being made. The most common type of claim is a complaint alleging a violation of the Georgia Securities Act, which must be filed within five years of the alleged violation. If the claim is related to a misrepresentation or fraud allegation against a broker-dealer or investment adviser, the claim must be filed within two years of the date of the alleged fraud or misrepresentation. For claims involving the sale of certain securities, such as those associated with public offerings, the Georgia Securities Act requires that the claim be filed within one year of the sale of the security. If a customer is challenging the legality of a security transaction, the claim must be filed within one year of the date the customer discovered or should have discovered the improper transaction. In addition to the statutory limitations, any claim must be filed before any applicable arbitration forum’s expiration of its time limitation. The National Association of Securities Dealers (NASD) limits the filing period to six years from the event giving rise to the claim. Finally, Georgia’s Securities Arbitration Law also contains a “peremptory” rule, which requires that a claim be filed within six months of the date the underlying dispute arose. This rule applies to claims that are barred by the other provisions of the law. Ultimately, it is important to note that the timelines for filing a securities arbitration claim in Georgia are subject to change and may be adjusted by the relevant arbitration forum. Therefore, it is important to check with the applicable arbitration forum to ensure that all filing deadlines are met.

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