FINRA Attorney Los Angeles Working for Investors to Fight Injustice

The FINRA arbitration process is complex — finding an advocate in California shouldn’t be

Investing can be an elaborate game of risks and rewards, trying to guess which area to fund and for how long. Most investors utilize the services of a professional broker or firm to maximize their knowledge and return. However, when that firm or broker fails to work with your best interests at heart, the results can be, at the least, financially disappointing. Our investment loss attorneys Los Angeles work to make sure you have all the information and resources you need to recoup your losses after an unsuitable investment.

The Frankowski Firm serves those investors who have experienced monetary losses due to the misconduct, negligence or incompetence of professional brokers and advisers. We specifically assist clients to file legal claims and prepare for the requirements of the arbitration process. We advocate for you, and investors like you, who have been subjected to concrete fiscal harm through willful disregard by investment firms.

How does the FINRA arbitration process work?

Arbitration is entirely different from litigation, despite certain similarities in the process. There is no jury or judge – just either a panel of three arbitrators or a single arbitrator who will decide the outcome of the case. In general, it works like this:

  • Filing the Statement of Claim. Your FINRA arbitration lawyer will file a Statement of Claim, which outlines your background with the broker or firm, details any evidence of wrongdoing, and requests damages. The SOC may also have exhibits attached to it as evidence.
  • Selecting the arbitrators. Through the ranking and striking process, both your attorney and the opposing counsel will choose arbitrators for the panel. The list of names is sent to FINRA, who chooses three. (In Simplified Arbitration proceedings, there is only one arbitrator.)
  • Having a pre-conference hearing. Usually conducted via telephone, the arbitrators and both parties discuss their timelines for discovery and the final hearing.
  • Submitting discovery. This is, generally speaking, an exchange of documents: account records, risk tolerance assessments, any and all agreements and contracts, correspondence between the investor and the broker, etc. Witness depositions and interrogatories are generally not allowed.
  • Attending the final evidentiary hearing. Like with a trial, the final evidentiary hearing allows both parties to issues opening and closing statements, call in expert witnesses, submit evidence and question both parties. (This hearing does not occur in simplified arbitration and instead the single arbitrator based the decision off the papers filed with FINRA.)

When all is said and done, the arbitrators have 30 days to render a decision. Under most circumstances, a decision made in arbitration cannot be appealed.

Having accurate knowledge about which investments are applicable and how they have been badly managed can aid your ability to properly prepare for your arbitration with the help of our securities lawyer Los Angeles.

Astute Los Angeles FINRA arbitration attorneys show you the way to justice

A broker’s first goal should be the success of his or her client. When the client makes money, the broker does as well. However, there are brokers who place their own financial gains above their clients. If you or someone you know in Los Angeles has lost money through either the deliberate or unintentional actions of a brokerage firm, or is facing FINRA arbitration, call The Frankowski Firm at 888.741.7503 or complete our contact form to discuss your options for recourse.