Atlanta FINRA Lawyers Guide Clients Through the Arbitration Process

Skilled arbitration representation for investors throughout Georgia

.  Chance is prevalent in investing. However, the chance involved should be due to market forces, not the neglect, incompetence, or deliberate deceit of a broker or investment firm. FINRA arbitration exists to bring justice and compensation to investors in these situations of professional misconduct. Due to the complexities of arbitration, you need an Atlanta FINRA arbitration lawyer to assist you in the task. The Frankowski Firm is here for you.

We work with investors who have undergone financial losses due to the failures of professional brokerage firms and investment advisers. We also help clients file legal claims when stockbrokers do not follow the mandates of their profession. Our goal is to help investors who have suffered financial losses because of the incompetence or negligence of their broker or brokerage firm.

What is the FINRA arbitration process?

FINRA arbitration is generally faster than a traditional court process but also much different. It has various aspects that can be a challenge for a person not trained handle FINRA arbitrations.

  • Filing a statement of claim. This is the first formal step to initiate FINRA arbitration proceedings.
  • Respondent answers and signs a Submission Agreement. Within 45 days of the filing of the statement of claim, the named respondent must provide a written answer, with specific details and support of its defenses. At this point, the respondent can also file counterclaims, cross-claims, or third-party claims. Should the respondent fail to answer or sign a submission agreement, they may be prohibited from presenting certain material during the hearing.
  • Arbitrators are selected. Three mutually agreeable arbitrators are selected. Neither side can have unsupervised contact or undisclosed personal or professional attachments to the arbitrators. At the end of this process, the Initial Prehearing Conference date is set, as well as the hearing date, generally with 9 months between the two for discovery.
  • Discovery. Both sides of the process are required to produce and exchange extensive lists of material at their own cost, hence the 9-month time frame to complete discovery.
  • Twenty days prior to the hearing. At this point, both parties must share a list of the witnesses they intend to call, including expert witnesses. They must also share any exhibits that will be used.
  • Hearing. FINRA arbitration hearings are usually held at a neutral site close to the investor claimant’s home location. The process is not unlike a traditional courtroom proceeding, with opening statements, witnesses, and evidence.
  • Decision. Unlike regular litigation, the decision is not announced immediately. Instead, within 30 days, the three-person arbitration panel issues a written decision. An explanation for the ruling is not usually provided. In cases where the investor claimant wins, the respondent must pay any damages within 30 days or face suspension.
  • Appeals. There are very few provisions for appeals and these are rarely judged in favor of the losing party, except in rare cases.

In addition to studying this cursory description of the process, we encourage you to consult with one of our arbitration lawyers directly for personalized assistance.

Types of Cases We Handle

Our Atlanta attorneys handle a variety of cases, including:

Securities NegligenceBroker Fraud
FINRAInvestment Fraud

Atlanta FINRA attorneys work to restore your investment and confidence

We hope this information will help you understand the FINRA arbitration process, but it is no substitute for speaking directly to a Georgia FINRA arbitration attorney. If you or someone you know in Atlanta has lost money from an investment and is considering FINRA arbitration, call The Frankowski Firm at 888.741.7503 or fill out our contact form.