A Trial Lawyers Perspective on FINRA Arbitrations and Expungement Proceedings

Expired

Program Number

29117

Program Date

2019-09-11

CLE Credits

By opening a securities account with a broker-dealer, the customer has agreed to resolve disputes through binding arbitration. FINRA arbitrations bear some resemblance to litigation, but there are significant differences, such as limited discovery and motion practice, relaxed rules of evidence, and no appellate rights. These limitations emphasize the importance of persuasively presenting a clients case, themes, and evidence at the hearing. A skilled trial lawyer should not view these limitations as a weakness but use them to his or her advantage in representing the client. The end of the arbitration is not necessarily the end of the matter for the financial services professional. The desire to expunge a negative disclosure from ones U4 can be a confusing and difficult process that may involve multiple evidentiary hearings, but if handled by an experienced litigator, the results can be career changing as we have experienced first-hand.