You may have lost money because of unsuitable advice. Maybe you were a victim to negligence on the part of your investment advisor. Then you are not alone. You are not alone. What if you could recover your losses? What if there were a beacon in the financial wilderness that could give you hope? FINRA Arbitration comes into play.
What is FINRA arbitration?
FINRA (the Financial Industry Regulatory Authority) is a nonprofit organization that regulates the exchange markets and brokerage firms of its members. FINRA’s arbitration process is comparable to a legal proceeding but is faster, more informal, and less expensive. Investors can have their disputes settled fairly, quickly and efficiently. Imagine yourself as a financial rescuer, saving investors from drowning under a sea full of losses.
Recovering losses through FINRA arbitration
Let’s look at an example from real-life. Robert Vance is a broker at Moloney Securities Company, Inc. who has a customer dispute pending since 2017. The claim alleges suitability/negligence and the stated damage amount is a hefty $120,000. If you were the investor, would you not want to recover the substantial loss?
- Firstly the investor will need to submit a claim against the broker with FINRA.
- The broker is entitled to respond after the claim has been filed. Robert Vance has refuted the allegations in this case.
- The case is then presented to a panel consisting of arbitrators, who will review the evidence, hear the testimony, and make a decision.
- Brokers or firms are required to pay any awarded amount if the decision goes in the favor of the investor.
The power of FINRA arbitration
Isn’t it a relief to know that you can recover your losses by using FINRA arbitration? Although it might seem intimidating, investors can use this powerful tool. It’s a superhero-like financial figure who comes in to fix the wrongs of the financial world.
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If you have suffered losses because of unsuitable advice, or due to negligence, don’t despair. With FINRA Arbitration, you can recover your losses. This is your chance to take revenge on those who wronged you and perhaps restore your faith to the financial system.
We all want that, right? Fair and transparent financial systems that work for all, not just big players. With FINRA arbitration we are one step closer to achieving this goal.