How long is the securities arbitration process?
Securities arbitration is a process, administered through FINRA, that is relatively expedited compared with a normal court case. The securities arbitration process usually takes approximately 12 to 18 months from the filing of the Statement of Claim through the issuance of an arbitration award after a final hearing.
One major benefit of the securities arbitration process is that there’s typically no, or a very limited, appeal after an arbitration award is issued. This is unlike a typical court case that may go on for many years at the trial level. Then, after the trial is concluded, post-judgment appeals can last even longer.
Compared with the length and unpredictability of the court process, the 12 to 18 months it takes to go through the FINRA process is comparably expedited. Moreover, when the claimant is a senior citizen, Florida law allows the claimant to seek earlier arbitration dates, potentially making the process even faster.
In sum, a claimant filing an arbitration claim should expect the process to take a year to a year and a half. Much of the timing depends on the arbitrators’ availability is in scheduling the final hearing.
Please Note: McCabe Rabin, P.A. provides these FAQ’s for informational purposes only, and you should not interpret this information as legal advice. If you want advice as to how the law might apply to the specific facts and circumstances of your case, please contact one of our attorneys.