June 15, 2024

How to File a Complaint against a Stockbroker

When you have endured stock losses of $100,000 or more and your stockbroker is responsible, you can file a complaint against them with the Financial Industry Regulatory Authority (FINRA). When you have to go up against a broker, their brokerage firm, or another financial planning institution, you may feel intimidated.

Fortunately, our team of seasoned stockbroker fraud attorneys have the experience you need to help you work to secure the repayment you’re entitled to. Below, we discuss how to go about filing your FINRA claim and what you can expect to happen during your arbitration hearing.

Filing a Complaint with FINRA

FINRA recommends that investors who have suffered stock losses should first file a complaint with their brokerage firm or stockbroker before proceeding to FINRA arbitration. If you get a response from your broker or their brokerage firm that doesn’t adequately address your concerns, you can then file a complaint with FINRA by mailing your complaint in or visiting their website and filing a complaint online.

What to Expect in Your Arbitration Hearing

After you’ve been granted an arbitration hearing, your attorney will begin building your case against the stockbroker who wronged you. You should be prepared to attend the in-person hearing with your lawyer, and the broker and their team will also be in attendance, along with a panel of three arbitrators.

Both sides will argue their case and the arbitrators will then retire to deliberate and review the evidence presented. These deliberations can be time-consuming, and it is not uncommon for arbitrators to take more than twelve months to resolve stockbroker misconduct complaints. However, if the arbitrators come down in your favor, they will award you the funds you need to move forward with your life.

Consult with a Stockbroker Fraud Lawyer

If you’re ready to hold your broker accountable for the damage they’ve caused, you can work with a stockbroker fraud lawyer at Meissner Associates to do what’s possible to obtain full repayment of your stock losses. Schedule your complimentary claim review today by completing the quick contact form at the bottom of this page or by calling our office at 212-764-3100.