What Happens During the FINRA Arbitration Hearing
Recovering your money based on a broker misconduct claim may be possible, but it is not an overnight process. Most broker fraud and misconduct cases are handled in mandatory arbitration before the Financial Industry Regulatory Authority (FINRA) and there are many steps involved.In our previous articles, FINRA Securities Arbitration: Why It’s Mandatory & What’s Involved, and The Initials Steps in FINRA Securities Arbitration, we explained the purpose of arbitration and how the process begins. This article will delve further into what happens during the FINRA arbitration hearing.
Each Side Will Be Heard
During the arbitration hearing, each side has the right to be heard and to present testimony and evidence. The hearing will be held in a conference room at a local FINRA office or in another designated location by FINRA. All the parties will be together in the room with the arbitrators.
The claimant and the person or entity named in the claim will be allowed to provide oral witness testimony and documentary evidence. According to FINRA’s Customer Code 12514, the other party has to be informed when a witness will be called to testify within 20 calendar days prior to the hearing. Documents that will be used as evidence must also be provided to the other party within this timeframe.
After the cases have been presented, each party has the chance to rebut the evidence. Closing arguments are then made and the arbitration panel makes its decision.
The Law Firm of Meyer Wilson
You do not have to face FINRA securities arbitration on your own. An experienced securities arbitration attorney may be able to help you.
The securities arbitration lawyers at the law firm of Meyer Wilson are licensed in Ohio and California and we represent investors nationwide in securities arbitration and litigation claims. We have successfully recovered millions of dollars for our clients. For a free case evaluation, contact us by calling toll-free 1.866.827.6537 or filling out our online form.