Imagine that you just purchased a brand new car. You’re excited and thrilled to be on the road. You’re excited, but after a few days, you discover that the car you bought is not what you had expected. It isn’t as fast or fuel-efficient as promised, nor does it have the fresh car smell. When an investment doesn’t live up to its promises, it can be a frustrating experience. You feel this way when you have been misled about your financial situation.
What is financial misrepresentation?
Financial misrepresentation can be compared to the car accident. A financial professional such as a brokerage or investment advisor will provide inaccurate or misleading information regarding an investment. Investors can suffer significant financial losses. What if you could recover your losses? What if you could make things right?
FINRA Arbitration – The Road to Recovery
Enter FINRA Arbitration. There are also regulations to protect investors, much like there are laws that protect consumers against faulty automobiles. The Financial Industry Regulatory Authority is a nongovernmental organization that regulates the member brokerage firms and exchange market. Its primary role is to protect US investors by maintaining fairness on the financial markets. Arbitration is one of its tools.
- Arbitration, a process of dispute resolution, is similar to court litigation but faster, simpler and less formal.
- Arbitration involves a neutral party called an arbitrator who listens to the two sides and makes a final decision.
- Investors can recover losses resulting in broker misconduct such as misrepresentation through FINRA arbitration.
Consider, for instance, the case of an investor who claimed that Ronald Martin, from Royal Alliance Associates, Inc., had misrepresented a fund with open-ended intervals. Client claimed $5,000 in losses. The case is pending. It could be resolved via FINRA Arbitration.
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Why choose FINRA arbitration?
Why should an investor opt for FINRA arbitration in order to recover losses? Why not take the case to court instead? There are many reasons.
- Arbitration is typically faster than court litigation. You could recover your losses faster.
- The process is less formal than that of a court proceeding, making it less intimidating to some investors.
- Finally, arbitrators are usually industry experts who have a thorough understanding of the financial issues involved.
Remember that you don’t have to be stuck with a lemon if you get the short end of a stick in negotiating an investment. FINRA arbitration may be a good way to recover losses and return to financial stability. A misrepresented investment, like a faulty automobile, is not the end of the road. It’s a minor detour along your financial path.
