Corporate & Securities Law

FINRA Investor Arbitration Statistics Reveal 49% Increase In Claims Filed

By James Eccleston

FINRA, the Financial Industry Regulatory Authority, has revealed its Dispute Resolution Statistics through October 2008.  As expected, the statistics show a surge in arbitration claims filed through October compared to October 2007. 

Notably, FINRA has experienced a 49% increase in claims in 2008 compared to 2007.  As one would expect, the leading charge is Breach of Fiduciary Duty followed by Misrepresentation, as well as Breach of Contract and Negligence.  Moreover, Mutual Funds are the #1 subject of disputes, however followed closely by Derivative Securities and Common Stock.  Auction-Rate Securities, a debacle that investors recently have witnessed, comes in at #4. 

For information regarding statistics, please contact FINRA at its website, www.finra.org.  For information about arbitration filings, please contact attorneys at SNSFE.

Source: www.finra.org

Full post as published by FinancialCounsel on December 02, 2008 (boomark / email).