FINRA is an acronym that stands for the Financial Institution Regulatory Authority. FINRA is self-regulating that is subject to oversight from the Securities and Exchange Commission (SEC) but otherwise has no government affiliation and is not a governmental entity. FINRA represents the majority of the securities industry, including broker-dealers, registered representatives, and investment firms.
When you commence a relationship with a FINRA member or FINRA-licensed financial advisor, your opening account agreement will require that any disputes between you and the member will be resolved through FINRA arbitration, conducted in accordance with the Code of Arbitration Procedure for Customer Disputes. In signing such an agreement, you waive your right to seek most remedies in state and federal courts. Instead of having your dispute resolved by a judge, it will be resolved by a one or three arbitrator panel (depending on the size of the claim), each of whom is pre-approved to conduct arbitration proceedings for FINRA.
The primary advantage to arbitration is that the proceedings move more expeditiously than that of court proceedings. Further the “discovery” process (the process by which each party is able to procure information about the other party’s case), is much more streamlined than that which you would find in court.
Investors who have been the victims of securities or investment fraud by their financial advisor or brokerage firm usually must bring claims in FINRA arbitration to try to recover their losses. FINRA arbitration has at least one hearing site in every state, such as Seattle, Denver, Chicago, New York, Phoenix, Las Vegas, Boise, Portland, Helena, Albuquerque, San Francisco, Los Angeles, Salt Lake City, and many others. Our attorneys have represented victims of investment fraud and securities fraud in many of these cities.
Israels & Neuman PLC is a securities law firm with offices in Denver, Colorado and the Seattle area. We represent investors in FINRA arbitration proceedings in all 50 states. Our attorneys have represented over one thousand investors against many brokerage firms in the past, including LPL Financial, Merrill Lynch, Morgan Stanley, Smith Barney, Stifel Nicolaus & Company, UBS Financial Services, Oppenheimer, Charles Schwab, Wells Fargo Advisors, Ameriprise Financial Services, Raymond James Financial Services, ProEquities, Securities America, National Securities Corp., and many others.
In addition to representing investors in FINRA arbitration, Attorney David Neuman is also a FINRA arbitrator.
All of our financial arbitration cases are taken on a contingent basis, meaning that we do not get paid unless we recover compensation for you.
Aaron Israels: (720) 599-3505
David Neuman: (206) 795-5798