As an investor in Florida, it’s important to have reliable resources for resolving disputes that may arise in your financial endeavors. One such resource is FINRA arbitration, which provides a forum for the resolution of disputes between customers and registered firms or associated persons.
For investors considering FINRA arbitration as a means of resolving a dispute between them and a broker-dealer or financial advisor, it is important to retain an experienced Florida FINRA arbitration lawyer.
A FINRA arbitration lawyer can provide you with the legal guidance and representation you need to navigate the arbitration process and achieve a favorable outcome.
The Law Offices of Robert Wayne Pearce, P.A. has been providing legal representation in FINRA arbitration cases since 1980. With more than 40 years of experience and a track record of successful outcomes, our team is uniquely qualified to provide you with the best possible representation for your case.
We are committed to helping investors resolve their disputes as quickly and efficiently as possible so that they can move forward with their financial goals.
All initial consultations are free of charge and confidential. Contact us today to discuss your dispute and learn more about how we can help you achieve a successful outcome.
What is FINRA?
FINRA, or the Financial Industry Regulatory Authority, is a self-regulatory organization that oversees the securities industry in the United States. This includes all brokers, dealers, exchanges, and other market participants.
FINRA is responsible for setting standards of conduct in the securities industry, monitoring compliance with those standards, and enforcing any violations. It also provides a forum for resolving disputes that may arise between customers and financial firms or associated persons.
What is FINRA Arbitration?
As an investor, there are alternative routes you can take if you find yourself in a dispute with your financial firm or associated person. FINRA arbitration is one such option.
You can choose to file a claim in FINRA arbitration if you believe that your financial firm or associated person has violated their duties or obligations, resulting in losses for you as an investor.
FINRA arbitration offers a much more effective and cost-efficient course of action than litigation, since the process is generally much faster and there are fewer expenses. Additionally, arbitrators in FINRA hearings tend to be more knowledgeable about securities law than a judge would be in a civil court case.
The decisions made by FINRA arbitrators are binding on the parties involved.
What Can a Florida FINRA Arbitration Lawyer Do?
A FINRA arbitration lawyer can provide a variety of services to help you navigate the FINRA arbitration process and achieve a favorable outcome. Some of the specific things that a Florida FINRA arbitration lawyer can do include:
- Explain the FINRA arbitration process to you: Your lawyer can explain the steps involved in the FINRA arbitration process, including the pre-arbitration phase, the arbitration hearing, and the post-arbitration phase. This can help you understand what to expect and how to prepare for each stage of the process.
- Help you prepare for the arbitration hearing: Your lawyer can help you gather and organize the necessary documents and evidence for your case, and can also help you prepare for any witness testimony or cross-examination that may be required during the arbitration hearing.
- Represent you at the arbitration hearing: Most importantly your lawyer can represent you at the arbitration hearing and advocate on your behalf to ensure that your interests are protected. This can give you the best possible chance of achieving a favorable outcome in your case.
- Negotiate a settlement: If both parties are willing, your lawyer can help facilitate negotiations to reach a mutually-beneficial settlement outside of the arbitration hearing.
- Appeal the arbitration decision: If you are unhappy with the outcome of the arbitration, your lawyer can help you file an appeal and represent you in any subsequent proceedings.
Overall, a Florida FINRA arbitration lawyer can provide valuable legal guidance and representation throughout the FINRA arbitration process and can help you achieve the best possible outcome for your case.
IMPORTANT: Investors who have suffered investment losses due to misconduct or wrongful behavior of their broker, dealer, or financial advisor may be entitled to recover damages. A qualified FINRA arbitration attorney can review your case and advise you on the best course of action to pursue. If you would like to speak with a qualified Florida FINRA arbitration attorney, please contact us today.
What Are Some Questions to Ask a Florida FINRA Arbitration Lawyer?
When considering whether to hire a Florida FINRA arbitration lawyer, it’s important to ask some questions to determine if the lawyer is the right fit for you and your case.
Here are some questions you may want to ask your FINRA arbitration lawyer:
- How long have you been practicing FINRA arbitration law? This can give you an idea of the lawyer’s level of experience and knowledge in this area. Securities law is unlike other areas of law, FINRA arbitration is a specialized field, so it’s important to find someone who has experience in this practice.
- What is your track record in FINRA arbitration cases in Florida? Asking about the lawyer’s previous cases and successes can give you an idea of their skills and abilities in handling FINRA arbitration cases.
- What is your experience with FINRA arbitration cases similar to mine? It can be helpful to know if the lawyer has experience with cases similar to yours, as this can give you an idea of their familiarity with the issues and relevant laws.
- What is the expected timeline for my case? It is important to understand the likely length of the arbitration process and any key milestones or deadlines that may arise.
- How will you help me understand the arbitration process and my options? It can be helpful to have a lawyer who can explain the arbitration process and your options in a clear and understandable way.
- What are your fees and how will they be structured? It is important to understand the cost of legal representation and how it will be billed. Be sure to ask about any potential additional costs or fees that may arise during the course of the case.
What Can You Recover in a FINRA Arbitration Case?
The potential recovery in a FINRA arbitration case will depend on the facts and circumstances of the particular case. Generally, investors who have been victims of misconduct or wrongful behavior of their broker, dealer, or financial advisor may be entitled to recover compensatory damages including:
- Any fees you paid to the brokerage firm or broker for services that involved misconduct or fraudulent behavior
- The loss of your investments that can be traced back to misconduct or securities fraud
- Any other losses you sustained, like tax burden
- Attorney fees and additional costs incurred during the arbitration process
In some cases, punitive damages or other forms of relief may also be available.
You will need to speak with a FINRA attorney to better understand the potential recovery in your case and to determine the best course of action for you.
Our Law Firm Has a History of Success with FINRA Arbitrations in Florida
The Law Offices of Robert Wayne Pearce, P.A. has an impressive track record of success in representing clients in securities disputes throughout Florida and beyond.
Our firm is highly regarded by both legal professionals and investors alike for our knowledge, experience, and commitment to obtaining the best possible results for our clients.
Some of our past successes include:
FEDERAL COURT FINAL JUDGMENT $21,041,285
Case No. 1:10-cv-21444-KMM
College Health and Investment, Ltd. v Esther Spero
This Final Judgment was entered against the defendant for fraud, breach of fiduciary duty, and civil theft pursuant to Sections 812.014 and 772.11, Florida statutes in 2010.
FEDERAL COURT CLASS ACTION SETTLEMENT $4,300,000
Case No. 14-001695-CI
State of Florida, Office of Financial Regulation v. Tri-Med Corp., et al.
Mr. Pearce represented the investors as co-counsel with the Receiver in a class action against the accounting and legal professionals for allegedly aiding and abetting a Ponzi scheme. After removal from state to Federal court and several years of litigation, the lawsuit was resolved in 2017 through mediation and the payment of more than $4.3 million to the receivership for the investors benefit by the law and accounting firms.
FLORIDA STATE COURT SETTLEMENT $3,500,000
This $3.5 million settlement was in a state court action filed by Mr. Pearce on behalf of a trust for an elderly widow was against one of the largest corporate trustees in the country. The corporate trustee allegedly failed to diversify a concentrated portfolio in a single stock during the 2008-2009 financial market meltdown. The case was settled in 2010 for substantially all of the widow’s losses she was entitled within the short six-month statutory window for bringing a claim against trustees and Florida.
FINRA ARBITRATION AWARD $3,266,200
Case No. 90-01044
Jack Friedlander, et al. v. Margaretten Securities
This arbitration involved misrepresentations and unsuitable recommendations that Claimants invest in complex structured products consisting of stripped coupon mortgage-backed securities and pass through certificates. The Claimants were awarded punitive damages and attorney fees and expenses.
FINRA ARBITRATION AWARD $2,752,049
Case No. 10-03554
College Health and Investment, Ltd. v Wells Fargo Advisors LLC
This FINRA Arbitration by College Health against Wells Fargo Advisors followed a Federal court proceeding for aiding and abetting the defendant in that case in the theft of funds from the family holding company’s brokerage account at the firm.
FLORIDA PROBATE COURT SETTLEMENT $1,900,000
In this Probate court matter, Attorney Pearce represented several family members in a lawsuit against legal and financial professionals and others for their undue influence over an elderly person in conveying his investments and other assets prior to his death. The suit was settled during a mediation in 2007 for $1.9 million.
FINRA ARBITRATION AWARD $1,817,296
Case No. 09-02697
Gerald J. Kazma, et al. v. Citigroup Global Markets, Inc., et al.
The Kazma Family filed an arbitration claim against Citigroup Global Markets, Inc. for losses arising out of a complex municipal arbitrage structured products commonly known as the MAT/ASTA products which were allegedly misrepresented and mismanaged during the 2008 municipal bond financial crisis. Mr. Pearce represented scores of investors in connection with the failed MAT/ASTA structured product debacle.
Are You Debating Filing a FINRA Arbitration Claim Against Your Broker-Dealer or Financial Advisor?
If you are considering filing a FINRA arbitration claim against your broker-dealer or financial advisor, it is important to carefully weigh the potential risks and benefits of doing so.
Here are some things to consider:
- Do you have a valid claim? To be successful in FINRA arbitration, you must have a valid claim and be able to prove that the broker-dealer or financial advisor acted improperly or negligently.
- How much investment loss have you incurred? It is important to consider the potential damages that may be awarded if you win the arbitration. These may include compensation for any investment losses you have suffered, as well as any other damages that may be appropriate.
- What are the potential risks? There are also potential risks to consider when filing a FINRA arbitration claim. For example, you may not be successful in your claim, or the award may be less than the costs of arbitration.
As a good rule of thumb, if you have suffered significant investment losses and you believe that a broker-dealer or financial advisor acted improperly, you should speak to an experienced FINRA arbitration attorney to help you evaluate the merits of your claim and the potential risks and rewards associated with it.
Schedule Your Free Consultation with a Florida FINRA Arbitration Lawyer Today
The Law Offices of Robert Wayne Pearce, P.A., and our attorneys have over 40 years of experience in representing investors throughout the United States in FINRA arbitration claims.
We have recovered millions of dollars in awards and settlements for our clients, including the cases listed above.
If you believe that a broker-dealer or financial advisor has acted improperly and you are considering filing a FINRA arbitration claim, contact us today to discuss your case. We will provide you with a free consultation and help determine if we can be of assistance in your claim.