Securities Attorney, Lars Soreide of Soreide Law Group, was quoted in a December 6th., 2013, Reuters article, titled "Arbitrators could receive pay hike under Wall Street watchdog plan," by Suzanne Barlyn.
The article discusses the fact that the Financial Industry Regulatory Authority (FINRA) approved a 50 percent increase of fees it pays its securities arbitrators. The move is now subject to approval from the U.S. Securities and Exchange Commission. The fees that arbitrators receive would increase from $200 to $300 for a half-day hearing and from $400 to $600 to a full day hearing. Arbitrator chairpersons would receive an extra $125 per day, instead of the current $75. The raise would be the first for arbitrators since 1999.
The quote directly from the Rueters' article reads as follows:
"Nonetheless, the possibility of higher filing fees did not concern some lawyers. "Anything FINRA can do to keep costs down for the investor side is good for investors as a whole, but a few hundred dollars won't make a material difference," said Lars Soreide, a lawyer in Fort Lauderdale, Florida who represents investors. "It won't dissuade legitimate litigation going forward," Soreide said."
Lars Soreide, of the Soreide Law Group, can be reached at (888) 760-6552. Soreide Law Group represents investors nationwide before FINRA.
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