About Our Firm and FINRA

About Soreide Law Group PLLC & FINRA

Focused on Helping Victims of Stock Broker and Financial Advisor Fraud - FINRA Lawyers

Soreide Law Group, PLLC, is a securities law litigation firm. We are committed to recovering financial losses to victims due to fraudulent conduct on behalf of stockbrokers or financial advisors. We are able to represent investors nationwide in the handling of their securities fraud claims.

Furthermore, our securities lawyers have recovered investment losses from almost every major Wall Street firm in the country. In addition, we have brought millions of dollars in securities arbitration claims on behalf of investors before FINRA. 90% of Soreide Law Group client cases result in monetary recovery. Contact us if you need FINRA Lawyers.

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More About Filing Your Case Before FINRA - Ask Our Lawyers

Why FINRA Arbitration and Not Court?

Rather than having their disputes decided by a judge and jury, participants in arbitration proceedings have their disputes resolved by a panel. For instance, this panel is made up of typically 3 arbitrators who are knowledgeable in the area of securities laws and regulation.

The U.S. Supreme Court decision, Shearson v. MacMahon, 482 U.S. 220 (1987) enforced mandatory binding arbitration clauses in the securities industry. One of the most important legal aspects of arbitration is that arbitration awards are final and binding, subject to review by a court only on a very limited basis. However, every account opening document with every broker-dealer in the country requires mandatory FINRA arbitration.

The Statement of Claim

The Statement of Claim may be in narrative or pleadings form. For example, The Statement of Claim must specify the relevant facts of the dispute, detailing the nature of the dispute, along with relevant dates. Additionally, this includes the transactions in dispute, the investments involved and the number of damages and relief sought.

Hearing Procedures

Securities arbitrations are conducted in the same manner that a court trial is held. First, there are opening statements; examination of witnesses, evidence introduced by the claimant and by the respondents, and closing arguments. Further, it is a formal proceeding and the arbitrators are typically attorneys, retired judges, and industry professionals who are skilled in the handling of evidentiary objections. Additionally, awards typically take one week before they are published.

Duty to Arbitrate

Customers are bound to FINRA arbitration by contract and registered representatives and their firms are contractually bound to arbitrate their disputes by their membership in the Financial Industry Regulatory Authority (“FINRA”), formerly the National Association of Securities Dealers (“NASD”). Upon applying for membership in the FINRA, the broker-dealer and the stockbroker agreed to be bound by the rules of the FINRA.

Answers

Like the Statement of Claim, the answer can be narrative or in pleadings form. The answer will specify all of the available defenses that the party relies upon, and all facts relative to those defenses.

Hearing Location

After the filing of all claims, answers, and replies, FINRA will typically notify the party of the location of the hearing. The hearing location is typically the location where the investor was a resident when the transactions at issue occurred. We represent investors Nationwide through the FINRA forum.

Commencing an Arbitration

Arbitrations are commenced by filing a statement of claim within the appropriate arbitration forum, together with a submission agreement and the required fees. The fees with the Financial Industry Regulatory Authority (“FINRA”) can range from $475 to $1,800 depending on the amount in controversy. Prior to filing the Statement of Claim, a good attorney will advise the client to perform an initial damage analysis by a forensic accountant, which typically ranges from $500 to $2,500. Depending on the nature of the case a damage analysis may not be necessary. An expert in the securities or investment field may be retained to testify at the final hearing depending on the case's complexity. We accept cases on a contingency fee basis meaning we do not get paid for our time we only get paid in the event of recovery and we advance all costs so you will never write us a check to handle your case.

Prehearing Discovery

All parties are entitled to “discovery”, that is the exchange of documents prior to the actual trial. Discovery is a large part of the arbitration process and a good attorney will always participate as exhaustively in discovery as the case permits. In bringing an arbitration claim, customers and brokerage firms are required to exchange documents through what is called the discovery process. FINRA has compiled a list of documents that customers and brokerage firms must produce for each other in securities claims involving customer disputes. These documents include but are not limited to the clients: tax returns for relevant years, statements, trading confirmations, marketing material, correspondence, resume, statements from other brokerage accounts, and other relevant documents which tend to prove your claim.

General FINRA Info

FINRA arbitrations cases and mediations of securities and business disputes may be initiated through FINRA. There are two ways of resolving disputes between and among investors, brokerage firms, and individual brokers—FINRA arbitrations and FINRA mediations.

The FINRA arbitration process, the FINRA code of arbitration procedure, and the FINRA rules of arbitration procedures can be very confusing to someone who is new to the process. Soreide Law Group obtained the following information on FINRA’s website which was designed to help guide someone through, what can be a very daunting process.

Our Commitment to You

We Treat You Like A Valued Partner

At our firm, you don’t deal with legal secretaries or paralegals, you deal only with securities lawyers. Therefore, we keep you informed and provide guidance during every step of the process. Soreide Law Group has a customer-first philosophy. As a result, we consistently receive positive reviews for superior customer service.

One of the most important decisions you can make in the securities arbitration process is the selection of a securities lawyer. Further, securities arbitration is a unique and complex process that requires highly specialized knowledge to obtain a successful outcome.
Contact us to begin the process.

securities lawyers in wichita kansas shaking hands

We risk our own money fighting for you because we believe in your case. And, we advance all legal costs for our clients. We have more than a 90% success rate in recovering money for our clients. Soreide Law Group has handled hundreds of FINRA claims nationwide. Contact our FINRA Lawyers today.

Serving Clients Across the Nation in All 50 States

Securities arbitrations are trials conducted in a hearing conference room. For instance, there are typically three arbitrators instead of a judge and jury. The selection of an experienced securities lawyer is so important in these cases because FINRA is an equitable forum. To clarify, this means arbitrators can hear legal causes of action stemming from state statutes, federal securities acts, federal statutes, the common law, and FINRA’S own rules.

Banks, insurance companies, and brokerage firms know the importance of using experienced securities lawyers. Beware of arbitration consultants as they are not lawyers. Therefore, they simply do not have the training or legal experience that an attorney has to be able to handle the complex litigation you are facing. Furthermore, many arbitration consultants are violating state laws by practicing law without a license.

Securities Lawyer, Lars Soreide, has worked at FINRA. Therefore, he understands how to navigate the complex FINRA forum and apply the applicable securities laws to your specific case. Contact us today to speak with a securities lawyer who can guide you through the challenging process of recovering your investment losses through FINRA.

“5.0 Out of 5.0 Overall Rating”
LAWYERS.COM
"Ok, I found this guy on the internet by googling stock market fraud and this guy's site pops up. I immediately filled out the form and got a call within 10 minutes. Talk about service with a smile. This guy was really fast. He asked me to send him via fax or email all the documents I had. In about 2 days' time, he educated me on how we would go about collecting the debt I had lost. In total, I lost about 350,000 from my broker making handfuls in commission. It took a year and the loss of my life savings. He was able to settle within 2 months and I got about 170,000 back. He really saved me and helped me do this firm some justice."
BARRY HARRINGTON • CLIENT
"Our experience with Lars Soreide was very satisfying. He is a very sincere and dedicated lawyer. He did an excellent job in representing us in front of the arbitrator. We recovered 100% of the funds that we invested with the stockbroker We highly recommend him."
WILL GILLMAN • CLIENT
"Mr. Soreide represented me and Everything went great. I highly recommend hiring Mr. Soreide. Preparation is key and he was super prepared for the hearing. Thank You."
TODD FREDERICK • CLIENT
"We are so happy we chose Lars K. Soreide of Soreide Law Group to handle a claim against our stock broker. Our long-trusted broker was actually not to be trusted. We had lost over 6 figures because of illegal activity the FBI charged him with. We were devastated since my husband and I were in retirement. I researched for many hours before deciding on Lars Soreide to handle the case against our broker to try and recover some of our losses. He was professional and did an outstanding job. He knew how to reach a settlement when another legal firm representing a large group could not reach a settlement due to the size of that groups claim. We are so happy we did not go with the large group and chose someone that would concentrate on our loss and our settlement. We are very satisfied with the way he handled and settled our case."
ANN HODY • CLIENT

Recover Your Losses • No Fee If No Recovery • We Advance All Costs Because We Believe In Your Case

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