The Financial Industry Regulatory Authority or FINRA handles numerous claims made by investors against securities firms and brokers. The main advantage of arbitration is the ability to get a final result on your case much faster than going through civil litigation. Also, there are a very limited number of appeals when your case goes to arbitration. The disadvantage of this process is that the case will not be decided by a jury. Instead, a panel of arbitrators will hear your case and make the final decision. This read offers information on the many advantages of FINRA arbitration for securities fraud.
There are many law firms that represent the client in filing a Statement of Claim with FINRA. This statement will detail the facts of the case and seek redress. The firm will then obtain a list of arbitrators provided by FINRA. Once the panel is selected, discovery and hearing schedule is set. Then, both sides will provide the panel with certain documents that are required for the case. The arbitration hearing is quite similar to a trial. Hence, you would want a law firm with experienced trial lawyers working for them. A good law firm will take matters all the way to the final hearing if the broker is not willing to do justice to their client. This is why you need to pick the right law firm in the market for such cases.
With hundreds of professional law firms operating in your town, choosing a reputed and experienced law firm to handle FINRA arbitration cases is not an easy thing. You have to do extensive research before you find the best lawyer in town. The Internet is a great resource to find such a lawyer. Search Google for the best FINRA arbitration law firm in your area. You should get a list of law firms functioning in the area for such a search. Compare the services and prices of these firms before you decide to pick the best lawyer for the job. This sort of approach will save you a lot of time and effort in the long run.
In conclusion, FINRA arbitration for securities fraud has numerous advantages compared to civil litigation. The results are much faster with FINRA arbitration. But the case is heard in front of an arbitration panel and not a jury. This article provides information on some of the advantages of FINRA arbitration.