Securities Lawyers Frequently Asked Questions

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.

You should choose an attorney based on reputation, experience, past awards, responsiveness, and trust. If you have questions for Lars Soreide, Esq., he can discuss similar cases and what he has done to induce settlements and awards.

There is no fee if no recovery at Soreide Law Group. In addition, there are nominal forum fees for FINRA depending on your loss. However, there may be nominal travel expenses that come out of the settlement/award. If you have any concerns about fees please discuss them with us.

The Financial Industry Regulatory Authority (FINRA) is the largest independent regulator for all securities firms doing business in the United States. Further, FINRA’s mission is to protect America’s investors by ensuring that the securities industry operates fairly and honestly. All told, FINRA oversees about 4,400 brokerage firms, about 162,930 branch offices, and approximately 630,020 registered securities representatives.

Filing a claim with FINRA is easy with Soreide Law Group, please contact us at your convenience.

The hearing location is typically at the FINRA hearing location nearest to where the investor lived at the time of the investment. However, this can be changed if agreed upon by all parties.

No, we will travel to the hearing location that FINRA assigns. For instance, the vast majority of our clients are out of state. We allow the opportunity to call, email, fax, video chat, and share files electronically, in addition to traditional mail so it makes no difference where our main office is located. Our goal is to make it easy for you.

The Financial Industry Regulatory Authority or FINRA is the binding dispute resolution forum 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.

Arbitrations begin by filing a statement of claim with FINRA’s headquarters, together with a submission agreement and the required fees. Prior to filing the Statement of Claim, in most cases, we will have an initial damage analysis performed by a forensic accountant. Depending on the nature of the case, a damage analysis may not be necessary.

We accept cases on a contingency fee basis meaning we do not get paid for our time. Rather, we only get paid in the event of a recovery.

We represent all Florida licensed professionals before the Department of Business and Professional Regulation, Department of Health, Florida Department of Banking and Finance, now the Florida Office of Financial Regulation, and attorneys. We also represent attorney applicants before the Florida Board of Bar Examiners and the Florida Bar Grievance Committee.