FINRA Arbitration Lawyer
In 2007 the National Association of Securities Dealers (NASD) merged with the New York Stock Exchange (NYSE) to create the Financial Industry Regulatory Authority (FINRA). FINRA conducts arbitration and mediation, regulates broker conduct, conducts enforcement proceedings, handles compliance work and helps resolve disputes. If you have a brokerage account, you most likely agreed to have any disputes relating to that account referred to FINRA for arbitration.
Examples of misconduct that may give rise to an arbitration claim against a broker or brokerage firm are as follows:
- Breach of Fiduciary Duty
- Unsuitability
- Excessive Trading
- Over-Concentration
- Lack of Supervision
- Unauthorized Trading
- Mutual Fund Fraud
- Misrepresentations & Omissions
- Inappropriate Asset Allocation
In particular, if you are retired or elderly and have recently sustained substantial losses in the stock market, you may have a FINRA claim based on the unsuitability of your holdings and an over concentration in equities. FINRA, in recent notices to brokerage firms, has advised that an investor's age and life stage are critical components of an investor's profile and firms cannot meet their regulatory obligations without considering those factors. FINRA has also expressed concern regarding the suitability of recommendations to and communications aimed at older investors.
Contact us today to receive a complimentary evaluation of your portfolio and to discuss with an experienced FINRA arbitration attorney whether you have sustained losses in the stock market that could have been prevented and which might be actionable against your broker or brokerage firm.
