What is the role of the FINRA arbitration department?

The Financial Industry Regulatory Authority (FINRA) Arbitration Department is responsible for administering and overseeing securities arbitration law in California. Securities arbitration is a process that allows individuals who have been wronged financially, whether by a stockbroker or firm, to bring a claim against the responsible party before an impartial panel of arbitrators. The FINRA Arbitration Department is responsible for managing and supervising the entire arbitration process and enforcing the rules and regulations it has established in order to ensure fair and just arbitrations are conducted. This includes selecting and appointing arbitrators, overseeing the filing of claims and counterclaims, managing the scheduling of hearings and other proceedings, collecting arbitration fees, and granting awards. The FINRA Arbitration Department also provides mediation services, which are voluntary proceedings intended to resolve disputes outside of a formal arbitration hearing. The FINRA Arbitration Department works closely with parties to ensure disputes are settled quickly and equitably. The FINRA Arbitration Department also serves as an advocate for investor rights, protecting investors and ensuring the enforcement of fair and just procedures and practices. In order to carry out its responsibilities, the FINRA Arbitration Department works closely with the California Department of Corporations and other regulatory agencies.

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What is the role of the FINRA arbitration department?

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