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A look at seminal study’s conclusions regarding FINRA arbitrations

Talk about exhaustive research that can’t easily be called into question. A team of researchers who recently published a paper on FINRA (Financial Industry Regulatory Authority) arbitration buttressed the validity of their results through research spanning nearly 9,000 decisions rendered by approximately 8,000 arbitrators.

Although a number of notable conclusions emerged from that ambitious effort, one in particular strikes a bottom-line chord.

It is this: If you are an individual or institutional investor who opts to go it alone against an industry player (e.g., a brokerage) in a FINRA arbitration proceeding, things are not likely to go well for you.

In fact, there’s a marked probability that you will be dismayed by the results even if you present your case to a panel with an attorney at your side.

It’s a fact that many lawyers who represent clients before FINRA panels are relatively inexperienced in securities matters and concerning the authority’s technical rules and procedures. Such lack of familiarity can harm a client materially in a process that probing research stresses already procures high numbers of “industry-friendly outcomes.”

We know well the realities surrounding FINRA securities arbitration at Shepherd, Finkelman, Miller & Shah, LLP, and are always well prepared to meet them and promote optimal outcomes for our valued clients. We duly stress on our website that the firm devotes “a significant portion of its practice to securities arbitrations and related proceedings before FINRA.” Our proven advocacy in that singular legal arena over many years has netted “hundreds of millions of dollars on behalf of aggrieved investors.”

The above-cited research notes that there is a distinct and complex selection process that FINRA applies to arbitrator selection. We know it well and strive to employ it with optimal effectiveness on behalf of our clients in every arbitration matter.

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