01/22/2026
As a former registered representative, FINRA arbitrator, and attorney who has spent decades representing investors harmed by stockbrokers, investment advisers, financial planners, and insurance agents, I have seen the inner workings of the securities industry from every angle.
Thirty years ago, when I became a FINRA arbitrator, at training one bit of advice was made clear: award punitive damages, and you won't be selected for future panels. Throughout my career, I watched this play out repeatedly—arbitrators who ruled in favor of investors were systematically removed from cases.
PIABA, the Public Investors Advocate Bar Association, fought back against this practice and achieved meaningful reforms to create a fairer arbitration selection process. Unfortunately, FINRA and its securities industry members are once again tilting the scales. By removing arbitrators who hold bad actors accountable, they are stacking panels with pro-industry arbitrators—those who will deny investors the damages and relief they are legally entitled to when financial professionals cheat them out of their life savings and retirement funds.
This is exactly why experienced investor advocacy matters. If you or a loved one has suffered losses due to broker misconduct, unsuitable investment recommendations, or fraud, you need an advocate who understands how this system operates—and how to fight back.
Contact us today at (331) 248-4330 for a consultation.
PIABA commends SEC's focus on forced arbitration by RIAs while urging stronger action for vital investor protection. Learn more about investor rights.
