Simplified arbitration in FINRA stockbroker fraud and malpractice actions

While arbitration is, generally speaking, less time consuming than a jury trial, it can still take a considerable amount of time from start to finish. To help expedite the arbitration process, FINRA offers a simplified arbitration procedure. Simplified arbitrations are for cases where the damages, not including interest and expenses, are less than $50,000.00. In simplified arbitrations, there is no hearing. Instead, one arbitrator decides the case based on the pleadings, the discovery, and any other evidence that is submitted in a brief called the final evidentiary submission.

The Frankowski Firm has achieved great success with simplified arbitration. In cases where the client is unable to testify in person, the simplified process allows them to move ahead with a claim based on a paper filing. We often use this process with elderly clients that are unable to attend an in-person hearing and who need a faster resolution to their claims.

The average time for a decision in a simplified arbitration is 9 to 12 months from the case filing date. For standard arbitrations, the average time from the initial claim to a decision is 12 to 18 months.