Soreide Law Group handles cases involving stockbroker or financial advisor fraud/negligence
First, you need to decide if your loss is attributable to a "Market Loss" (the same decline as the general market percentage) or is something greater. Suitability is also important as a deciding factor because a retiree, for example, should not be in risky investments. Further, failing to limit losses and excessive trading is also something that could lead to broker liability. Additionally, you may have a case based on misrepresentations and excessive leverage. There are many more ways you could have a claim besides what is mentioned here. However, if you have any questions please feel free to call Lars Soreide to discuss your case.
The Financial Industry Regulatory Authority FINRA is the binding dispute resolution forum in that all securities disputes against brokers and brokerage firms are submitted. These arbitration are decided by a panel 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 is that arbitration awards are final and binding, subject to review by a court only on a very limited basis. FINRA used to be formerly known as the National Association of Securities Dealers or the NASD.