Rich & Intelisano, LLP represents individual and institutional investors in securities arbitration and litigation against financial firms. Our clients include high net worth individuals, family offices, hedge funds, funds of funds, endowments and other institutions. The Firm’s attorneys have a combined 70 years of experience in large and complex securities and commodities fraud cases on behalf of investors worldwide. We prosecute claims against brokerage firms, banks, hedge funds, investment advisors, trust companies and other financial firms.

What is securities arbitration and commodities arbitration?

Securities arbitration and commodities arbitration are private dispute resolution processes. Arbitration awards are binding. The cases generally takes 18 to 24 months from the filing of the action until the first arbitration hearings on the merits which is usually much faster than a court litigation. While there is a discovery process, it is more streamlined than court litigation and does not normally include depositions. Three arbitrators act as judge and jury. When an investor opens an account at a brokerage firm, the customer agreement invariably contains an arbitration clause in it mandating that any dispute with the firm or the broker be resolved through arbitration.

Who can commence a securities or commodities arbitration matter?

Any investor, in the U.S. or abroad, who has an account with a FINRA-registered broker-dealer or signed an agreement with a brokerage firm, bank, hedge fund, investment advisor, trust company and other financial firm which contains an arbitration clause in it.

Where are the arbitrations held?

Most arbitrations against broker-dealers are held at FINRA (Financial Industry Regulatory Authority) which is the recently combined entity of the NYSE and NASD. Commodities cases are normally heard at NFA (National Futures Association). Some agreements contain arbitration clauses for the American Arbitration Association (AAA) and JAMS. Most securities and commodities arbitrations take place in the state in which the public customer resides.

What kind of claims are heard in arbitration?

The Firm prosecutes customer claims including: Fraud, Misrepresentations & Omissions, Ponzi Schemes, Breach of Fiduciary Duty, Unsuitability, Excessive Trading and Churning, Over-Concentration in Speculative Investments, Failure to Supervise, Unauthorized Trading, Mutual Fund Fraud, Inappropriate Margin Trading, and Improper Asset Allocation.

What is securities and commodities litigation?

When an investor anywhere in the world has a potential claim against a financial institution and there is no arbitration clause in any agreement and the institution is not a member of FINRA or NFA, then the investor may commence a court action against the financial institution. Agreements with financial institutions may contain a clause directing in what court an investor may commence a suit.