Securities Arbitration


Securities ArbitrationLaw Offices of Thomas L. Gallivan, PLLC represents clients who have been harmed financially after relying on financial/investment advice from either a stock broker, financial advisor, brokerage house or some other investment professional.  As per most agreements between the parties (broker and client), disputes will be settled through the Arbitration Process.

Arbitration Process

An arbitration operates outside the traditional Courtroom and is a type of ADR (Alternative Dispute Resolution) and per most contract agreements, FINRA, (the Financial Industry Regulatory Authority) regulates the process. Arbitration tends to be less formal than a traditional courtroom setting and a client isn’t blocked from representing themselves. The two sides agree on a panel of arbitrators and present their arguments and the arbitrator makes a decision that is legally binding.  Although the process seems straightforward, do not make the mistake of arbitrating without retaining counsel.

Our Securities Attorneys at the Law Offices of Thomas L. Gallivan, PLLC firmly believe that due to our wealth of experience in the industry provides our clients with the best chance of prevailing.  Understanding the infrastructure of the markets enables us to zealously represent our client's interests against the contentions put forth by the attorneys representing the investment firms.   

How the Arbitration Process Works

The FINRA governing agency has created a rather straightforward process for filing complaints against brokers whether they are involved with and/or licensed by FINRA, NYSE, (New York Stock Exchange), NASD, (National Association of Securities Dealers) and other regulatory agencies.

How do I file a Claim?

First, the time constraint is that no claim can be submitted later that six (6) years after the event that brought about the filing itself. (Code of Arbitration Rule 12206)

The Uniform Submission Agreement must be executed and states generally that you will abide by the rules of the arbitration process and will be bound by its decision.

In addition, the plaintiff must submit a Statement of Claim, (FINRA 12302) which clearly states the facts, alleges violations of the applicable statutes or security regulations, and quantifies the losses and points blame at the responsible person. The Statement of Claim can not be amended and thus it must be well written, on point, and encompass all of the Plaintiff’s allegations and charges.

Once the Statement of Claim is filed, the Defendant has forty-five days to file their own Uniform Submission Agreement and file their answer, or Statement of Answer.

Contact Us

If you or a family member have been harmed by the acts of an unscrupulous investment professional, please contact us for a free initial consultation.

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