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Simple English definitions for legal terms

Securities dispute resolution: Filing a complaint

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A quick definition of Securities dispute resolution: Filing a complaint:

When there is a disagreement about securities, the people involved can choose to go to arbitration to resolve the issue. To start the process, the person making the complaint (called the claimant) needs to write a document called a Statement of Claim. This document explains what the problem is, how it happened, and what the claimant wants to happen to fix it. There are two types of claims: legal claims (when someone's legal rights were violated) and industry-specific claims (when someone broke the rules of the securities industry). The claimant also needs to fill out a Submission Agreement and pay a fee to the Financial Industry Regulatory Authority (FINRA). Once everything is filed correctly, FINRA will give the Statement of Claim to the other person involved (called the respondent) so they can respond to the complaint.

A more thorough explanation:

When someone decides to pursue arbitration to resolve a securities dispute, they must file a Statement of Claim with the Financial Industry Regulatory Authority (FINRA). This document explains the types of claims being made, the amount of damages requested, and the facts that gave rise to the claim.

There are two types of claims that can be made: legal claims and industry-specific claims. Legal claims arise from the violation of legal rights, such as fraud, negligence, or misrepresentation. Industry-specific claims can be made for the violation of industry rules, such as suitability, excessive trading, or commingling.

Along with the Statement of Claim, the claimant must also file a Submission Agreement and pay FINRA filing fees. Claims can be filed online or by mail. If there are any deficiencies in the filings, they must be fixed, which can delay the arbitration process. Once the filing requirements are met, FINRA will serve the Statement of Claim on the respondent party or parties.

For example, if an investor believes their broker engaged in excessive trading, they could file an industry-specific claim with FINRA. They would need to provide evidence of the excessive trading and explain how it violated industry rules. They would also need to pay the filing fees and file the necessary paperwork with FINRA.

Securities dispute resolution: Experts | Securities dispute resolution: Hearings

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HopefullyInLawSchool
13:34
?
13:35
@HopefullyInLawSchool: Yea, I just got it
i just want a cornell ii :(
13:37
yak you will be fucking shit up at cornell this time next year dw
i love u
13:38
love you too bby
glovediedthisishismom
13:42
what if desantis appoints lara trump and matt gaetz to be floridas senators
Dkk
13:42
Sounds good to me
HopefullyInLawSchool
13:43
@glovediedthisishismom: What if he appoint Ym instead?
HELP
every damn opportunity
13:47
do schools straight reject people from ed or to they always ed-rd if its a no for ED?
HopefullyInLawSchool
13:48
Some schools rject
13:49
Thanks! I couldn't find any reddit thread about it lol
13:49
but just means now I have to wait for the rejection from Davis
glovediedthisishismom
13:53
i just wanna rock
glovediedthisishismom
13:53
bodyadaya
13:53
let it rock
14:17
How are the vibes heading into thanksgiving yall?
HopefullyInLawSchool
14:17
@Law-Guy Im feeling kinda happy I applied YM to UCI hoping it helps (:
Wanna give some head
soap
14:18
Cornell
14:19
@HopefullyinLawSchool What's YM?
14:19
oh no
HopefullyInLawSchool
14:19
you mom
WorthlessAttractiveZombie
14:19
Ouch
HopefullyInLawSchool
14:19
your*
14:19
I fear I realized too late
babycat
14:20
another victim claimed
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