What is the role of the FINRA arbitration department?
The Financial Industry Regulatory Authority (FINRA) arbitration department is responsible for helping resolve disputes between investors and brokers. This department helps parties involved in a dispute by providing an impartial forum for settling disputes. The role of the FINRA arbitration department is twofold; first, they are responsible for administering the resolution process. This includes Scheduling hearings and assisting parties in creating arbitration agreements. Additionally, they are responsible for selecting a neutral arbitrator who is unbiased and qualified to oversee the case. Second, they are responsible for providing an objective avenue for resolving disputes. This process is designed to ensure that the parties reach a fair and binding resolution that both sides can be comfortable with. FINRA arbitrators are held to a high standard of integrity and are expected to interpret and apply securities arbitration law in a fair and consistent manner. FINRA arbitration is a great option for investors who are unhappy or have concerns about the services provided by their broker. FINRA arbitration is a fair and effective way for parties to resolve their differences in an unbiased and confidential manner.
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