National Investment Fraud Lawyers KlaymanToskes Applauds FINRA’s Audit of Its Arbitrator Selection Process
February 24 2022 - 8:30AM
Business Wire
National investment fraud lawyers KlaymanToskes expresses its
approval of the Financial Industry Regulatory Authority’s (“FINRA”)
decision to audit its dispute resolution forum’s arbitration
selection process. The independently performed audit will examine
how FINRA’s Dispute Resolution Services complied with its own
rules, policies, and procedures, and the self-regulatory
organization intends to make the audit results public once the
process is complete.
According to securities attorney Lawrence L. Klayman, Esq.,
“Investors deserve a fair opportunity when bringing their disputes
against their brokerage firms. FINRA’s commitment to investigate
the disturbing allegations raised by the Georgia court last month
will only improve the expedient and cost-effective access to
justice. KlaymanToskes believes that FINRA arbitration remains the
best avenue for investors to seek recovery for their claims.”
FINRA’s announcement follows a Georgia state court’s Order in
January 2022 which overturned an arbitration award in favor of
Wells Fargo (NYSE: WFC). The Order held that Wells Fargo and its
attorneys manipulated FINRA’s arbitrator selection process during a
case where an investor accused Wells Fargo of misconduct. The
manipulation occurred through a secret agreement between Wells
Fargo’s attorney and FINRA’s Dispute Resolution Services, which
allegedly kept certain arbitrators from being selected as potential
members of the decision-making panel.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which
practices exclusively in the field of securities arbitration on
behalf of retail and institutional investors throughout the world
in large and complex securities matters. KlaymanToskes has
recovered more than $228 million for investors in FINRA
arbitrations. KlaymanToskes has office locations in California,
Florida, New York, and Puerto Rico.
Destination:
https://klaymantoskes.com/finra-arbitration-selection-audit-helps-investors/
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KlaymanToskes Lawrence L. Klayman, Esq. 1-888-997-9956
lklayman@klaymantoskes.com www.klaymantoskes.com
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