Frequently Asked Questions and Resources

Frequently Asked Questions

How much does a FINRA arbitration cost?

You must pay a FINRA arbitration filing fee unless you can show financial hardship. Filing fees are based on the amount of the claim and range from $50 (for claims up to $1,000) to $2,250 (for claims over $5 million). FINRA also charges hearing session fees for pre-hearing conferences and the arbitration hearing, if necessary.

What is your attorney fee?

I work on a contingent fee basis, meaning that my fee is a percentage of the settlement amount or, if the case goes to hearing, a percentage of the arbitration award. If the case is not successful, there is no attorney fee.

Are there other costs involved?

There may be other costs involved, such as out-of-pocket expenses and expenses related to an expert for the preparation of damage calculations and for testimony at the hearing, depending on the complexity of the case.

Is there a deadline for filing a FINRA arbitration claim?

Yes. A claim is “not eligible for arbitration if six years have elapsed from the occurrence or event giving rise to the claim.” Also, other time limits imposed by state or federal law may apply. So, do not delay.

Where would the arbitration hearing be held?

Generally, the arbitration hearing will be held closest to where the investor lived at the time of the investment.

Don’t cases usually settle?

Historically, parties reach a settlement in about 75-80% of FINRA cases. However, it is important to approach each case as if it is going to hearing. Preparation is the key to a successful case, whether the parties reach a settlement or the case goes to hearing.

Does it matter if we are in different states?

Generally, no. Most states allow out-of-state attorneys to represent investors in FINRA arbitrations.