Summary: In a joint letter to the Finra Dispute Resolution Task Force sent Wednesday, the groups asked the task force to release information gathered in mandated arbitration disputes and information about the dispute process. The arbitration hearings are frequently the result of complaints filed by investors against advisors, brokers, advisory firms or broker-dealer firms.
 Mandatory arbitration deprives investors doing business with brokerage firms and investment advisors of the right to a judge and jury. Investors do not receive open hearings and often do not receive fair ones. In addition, the process is unlikely to result in adequate awards against brokers to deter misconduct and compensate injured investors.”9 Nine consumer and public interest groups in a joint letter to the Finra Dispute Resolution Task Force. |
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