Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

Securities dispute resolution: Filing a complaint

Read a random definition: air-services agreement

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

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
Imagine if election night was run by an adcom? Like, "yep, we could get the results Friday, or June 2025."
imagine if it was like Berkley applications
1a2b3c4d26z
11:22
Election status: Complete
1a2b3c4d26z
11:22
For months
triplethread
11:23
erection day
soapy
11:23
Shoutout to Robinhood's election bet not resolving until January
triplethread
11:23
is anyone else like certain that trump will win
ambitiouslizard
11:23
he aint winning
triplethread
11:23
i like being a pessimist
ambitiouslizard
11:24
he lost his re-election, why would he win this one?
1a2b3c4d26z
11:25
I have no idea why people have so much beef w berkeley's app
I've been reading a bit about "herding," which is this idea that pollsters are making the race look tied so they look right no matter who wins.
1a2b3c4d26z
11:26
Like... it's a more involved app but you don't have to do it? They're clearly trying to have some self-selection go on
I 100% agree with the self selection, I also am not even close to touching the medians there. However I think the huge PS plus the video and especially the very specific criteria for the why Berkeley essay is pretty crazy
I'm curious, how bold can one be in those videos? Is it worth making a satirical Jason Statham-action short if the adcoms have no sense of humor?
the more risk you take the higher chance of it backfiring
my instinct would be low humor bc if they have such a complex application I would feel hesitant to use a major part of it as a joke. They clearly take their admissions seriously and a joke video might convey the wrong thing at the wrong time. I think that humor is best put into a PS anecdote where it adds some shine to your personality
safe is always better
All good points
triplethread
11:34
@TheAdoptedOne: amazing
I almost did one for Vanderbilt and my idea was to do a documentary-style vid where I and others talked about me like it was an ESPN 30 for 30.
1a2b3c4d26z
11:36
I was risky in maybe one or two of my essays in that some parts read as slightly humorous, but I really tried to suss out the vibe for each school. I feel like Berk and UMich may be more accommodating of a more "out there" approach than other schools I applied to
1a2b3c4d26z
11:37
but that's literally just going off vibes
it looks like Berk vid is in response to a known prompt. My thinking is it may be a counter to AI by getting people to have to respond to what is essentially an essay prompt but on video
"I think really it’s more the USNWR change that emphasizes employment outcomes in school rankings. Schools want to admit people who have the skills to be more likely to land great jobs even more than before, and being a good interviewer is a very important for that. They want to see you have the soft skills." from a reddit comment
1a2b3c4d26z
11:38
One funny thing when talking to lawyers at work is that they will always say how they wish more law schools had interviews to make sure you can like... talk to people and form sentences
getting lunch no one say anything funny or do anything cool for 15 mins
triplethread
11:43
my dick fell off
Trump dropped out of the race
LSD+ is ad-free, with DMs, discounts, case briefs & more.