What issues can be addressed in a securities arbitration hearing?
Securities arbitration hearings address disputes between customers and their broker-dealer firms. In Alaska, the Financial Industry Regulatory Authority (FINRA) is the primary organization that oversees all securities arbitration cases. In these hearings, the customer and the broker-dealer both have the opportunity to present their case and evidence to a neutral panel of arbitrators. The issues that can be addressed in a securities arbitration hearing vary depending on the circumstances of the dispute. Commonly heard issues include claims of unsuitable investments, misrepresentation by a broker, breach of fiduciary duty, negligence, or fraud. Depending on the case, the panel of arbitrators can also hear allegations of wrongful termination, unauthorized trading, or failure to supervise brokers. Depending on the claims and evidence presented, the panel of arbitrators may award damages to the customer. These damages can include money to cover losses, legal fees, and other compensation. In some situations, the panel of arbitrators can also order the broker-dealer to make certain changes to prevent future similar issues. It is important to note that the FINRA arbitration process is designed to be a cost-effective and efficient way for customers to resolve disputes with their broker-dealers.
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