National investment fraud lawyers KlaymanToskes expresses its approval of the Financial Industry Regulatory Authority’s (“FINRA”) decision to audit its dispute resolution forum’s arbitration selection process. The independently performed audit will examine how FINRA’s Dispute Resolution Services complied with its own rules, policies, and procedures, and the self-regulatory organization intends to make the audit results public once the process is complete.

According to securities attorney Lawrence L. Klayman, Esq., “Investors deserve a fair opportunity when bringing their disputes against their brokerage firms. FINRA’s commitment to investigate the disturbing allegations raised by the Georgia court last month will only improve the expedient and cost-effective access to justice. KlaymanToskes believes that FINRA arbitration remains the best avenue for investors to seek recovery for their claims.”

FINRA’s announcement follows a Georgia state court’s Order in January 2022 which overturned an arbitration award in favor of Wells Fargo (NYSE: WFC). The Order held that Wells Fargo and its attorneys manipulated FINRA’s arbitrator selection process during a case where an investor accused Wells Fargo of misconduct. The manipulation occurred through a secret agreement between Wells Fargo’s attorney and FINRA’s Dispute Resolution Services, which allegedly kept certain arbitrators from being selected as potential members of the decision-making panel.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. KlaymanToskes has recovered more than $228 million for investors in FINRA arbitrations. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.

Destination: https://klaymantoskes.com/finra-arbitration-selection-audit-helps-investors/

View source version on businesswire.com: https://www.businesswire.com/news/home/20220224005395/en/