FINRA Arbitration
Experienced FINRA arbitration counsel representing investors against broker-dealers and financial advisors.
What Is FINRA
FINRA Arbitration Explained
FINRA — the Financial Industry Regulatory Authority — is a private, self-regulatory organization that regulates brokerage firms, financial advisors, and advisory firms. FINRA offers arbitration and mediation services for investors who seek assistance with a registered member that they feel has violated FINRA's code of conduct.
Through FINRA's arbitration and mediation services, disputes can be resolved far more rapidly than through traditional litigation. In many cases, litigation would not even be possible because FINRA hears all cases that violate its code of conduct, not only those that violate the law of the land.
FINRA maintains a public record of financial advisor and brokerage disciplinary actions and complaints which any investor can access. MDF Law strongly recommends dealing only with entities registered with FINRA.
Arbitration vs. Mediation
Arbitration
More formal, similar to a traditional court proceeding. Decisions are handed down by one or more arbitrators and are binding. Used to reclaim damages for losses.
Mediation
More informal and voluntary. Both parties must agree on any settlement. Over 80% of FINRA mediation cases result in a settlement.
2021 FINRA Statistics
1,895
New Customer Cases
44%
Cases Awarded Damages
15.4 mo
Avg. Decision Time
4,029
Cases Closed
The most common controversy heard by FINRA is Breach of Fiduciary Duty, with 1,445 cases in 2021. The second most common is Negligence, with 1,371 cases.
Virtual hearings are conducted via Zoom on US Data Centers. As of December 31, 2021, 269 customer cases had at least one virtual hearing.
Need a FINRA Arbitration Attorney?
MDF Law has extensive experience representing investors in FINRA proceedings. We evaluate your case at no charge and work on a contingency basis — no fee unless we recover.
Free Case Review
Talk to an attorney today. No fee unless we recover.