FINRA Arbitration and the Recovery Process
FINRA arbitration is the forum for your claims against your broker if you suffered a significant loss in your account. There is hope for recovery and we are here to help you.
All investor disputes with your broker are administered by FINRA arbitration, the broker dealer self-regulatory authority. FINRA’s predecessor organization, the NASD, was created in 1939 and was registered with the Securities and Exchange Commission to regulate its member brokerage firms. Since 1983, pursuant to a U.S. Supreme Court decision, all investors that have disputes with their brokers must resolve the case through binding arbitration if they signed account documents that have a clause to do so. Every brokerage firm that our law firm is aware of requires customers to sign an agreement to arbitrate disputes when they open their account.
If you live anywhere in Utah, including St. George, Provo, Ogden, Logan, or any other city in Utah when the dispute arose with your broker, the hearing will be held in Salt Lake City. Heiner Law Offices is based in Salt Lake City, Utah. Our law firm strongly believes it is to your advantage to hire a law firm that is familiar with the local hearing process and the Salt Lake City pool of arbitrators that will determine whether you win or lose your case.
While there are drawbacks to arbitration proceedings, there are also some benefits for the investor:
- FINRA arbitration proceedings are less expensive and time consuming than court proceedings. Brokerage firms often settle before the arbitration hearing begins.
- Decisions made by arbitration panels are final. There are very limited instances where a court will vacate an arbitration award. This will save the investor from a lengthy and costly appeals process.
- If a decision is made in the investor’s favor, the brokerage firm has thirty days to pay what is owed.
Heiner Law Offices Has 20 Years of Experience with FINRA Arbitration
Our firm has filed hundreds of arbitration claims against most of the largest brokerage firms in the U.S. We thoroughly understand the arbitration rules and process and we know the arbitrator pool in Salt Lake City, which is invaluable when it comes to giving you a fair hearing.
Despite arbitration being the forum to resolve disputes against a broker and his firm if your case does not involve arbitration Heiner Law Offices has successfully represented our clients in securities lawsuits in state and federal courts, before juries and judges.
Regardless of the forum where the case is heard, if you become our client, we will aggressively pursue the firm or individual responsible for your losses and hold them accountable. We will fight hard and we will not rest until we’ve done everything we can do to recover your losses. For more information about arbitration and the recovery process go to frequently asked questions link or call us.
Contact Us for a Free Consultation
Contact our office today to discuss your case. We offer a free initial consultation. You can reach us by phone at 801-366-5200 or via email. We try to take every case on a contingency basis which means we don’t collect a legal fee unless we successfully make a financial recovery for you.