What is the difference between a FINRA arbitration claim and a FINRA complaint?
When you wish to take your case before arbitrators to get your money back, you file a FINRA claim. You can also file a FINRA complaint online, which could serve to protect other investors in the future. A complaint will initiate an investigation of the broker, advisor, or brokerage firm that you believe defrauded you or was negligent. If FINRA finds a securities violation, the agency will take action against the broker and/or their firm. These actions could include barring the broker from the securities industry, suspending their licensing or certifications, and fining them.