FINRA sent an official request to its governing body, the SEC, asking for a ban of non-attorney representatives, though the request does allow non-attorneys to represent investors pro bono, as well as for investors to represent themselves. FINRA is still awaiting the SEC’s final decision.
There’s a universe of advice and information out there for investors looking to educate and protect themselves. Tune in to MSNBC or visit TheStreet.com and you’ll find a million answers to million different questions related to investing intelligently. But for all this “noise” about investing, there is some basic, critical information you probably will not hear about that could make all the difference to your financial well-being.
In a notable FINRA arbitration award released late last month from a Philadelphia, Pennsylvania Arbitrator. Philadelphia-based FINRA attorney arbitration law firm, Green, Schafle & Gibbs, has secured a more than $63,000 arbitration award from brokerage firm Morgan Stanley Smith Barney to an investor who had sought $80,000 in financial damages.
A recent article on The Street.com concerning revelations about a FINRA arbitrator with a shady past should remind aggrieved investors how important it is hire an attorney who is intimately familiar with the arbitration process.
Thanks to Democratic Representative from Minnesota, Keith Ellison, “The Investor Choice Act” has been introduced to Congress. The act would ensure that mandatory arbitration agreements are prohibited under US securities laws. As investor advocates ourselves, we support your right to choose, once the facts of your dispute have emerged, the venue most advantageous to you.