What is the role of the FINRA arbitration department?

The Financial Industry Regulatory Authority (FINRA) is a private regulatory organization responsible for overseeing the trading of securities in the United States. The FINRA Arbitration Department is responsible for the FINRA Arbitration Program, which is a form of alternative dispute resolution (ADR). This program provides a forum for the resolution of disputes between and among investors, brokers, and other industry professionals. The FINRA Arbitration Department is responsible for administering the arbitration process according to FINRA’s rules, which are available online. This involves receiving claims, appointing arbitrators to hear cases, setting hearing dates, and setting and collecting filing fees. The department also monitors proceedings to ensure that they are conducted according to FINRA regulations and provides administrative support to arbitrators. The FINRA Arbitration Department also serves as a mediator between parties when disputes arise. The FINRA staff reviews the parties’ positions and suggests possible solutions, or a settlement, that may resolve the dispute without the need for arbitration. However, if the parties are unable to reach an agreement through mediation, the department will refer the matter to arbitration. In Tennessee, the FINRA Arbitration Department works in conjunction with the Tennessee State Securities Commission to ensure that investors and industry professionals are protected from fraud and other unlawful activities. The department is also available to provide guidance and assistance to both parties involved in securities-related disputes. By providing a forum and support for investors, the FINRA Arbitration Department helps ensure that securities transactions are conducted fairly and properly in Tennessee.

What is the role of the FINRA arbitration department?

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