If you are facing a securities dispute, whether its an employment or customer matter, FINRA arbitration or regulatory scrutiny, hiring the right FINRA lawyer can make or break your case. FINRA cases involve specialized rules, procedures, and industry knowledge. As FINRA itself notes, the arbitration and regulatory world is unfamiliar terrain for most people, and “experience matters” when choosing counsel. FINRA
To help you make a the best possible choice, here are five key questions you absolutely should ask any prospective FINRA attorney before signing on the dotted line.
1. What is your specific experience with FINRA arbitration,
regulatory proceedings, and cases like mine?
You need someone who isn’t just a securities lawyer in name, but who has “been in the trenches” of FINRA arbitrations and discipline proceedings. Ask:
-
How many FINRA arbitrations have you handled (as lead attorney)?
-
How many regulatory enforcement or disciplinary matters (e.g. FINRA investigations, SEC referrals) have you defended or prosecuted?
-
Of those, how many went to full hearing? How many were resolved by settlement?
-
Have you handled cases with facts similar to mine (e.g. misrepresentation, unsuitable trades, churning, sales of private placements, failures of supervision, etc.)?
A lawyer who can point to a track record in FINRA matters is more reassuring than one who merely claims securities experience in other areas. As FINRA’s guidance says: “ask whether the attorney has experience representing investors in securities arbitrations.” Few if any attonrys have significant experience in this specialized pratice area.
Also probe how long they’ve been doing this kind of work, and whether their firm focuses on securities/arbitration matters or is more of a generalist. Reputation, specialization, and relevant precedent matter.
2. What is your case assessment — strengths, weaknesses, and realistic outlook?
You want an attorney who gives you an honest, grounded evaluation — not one who simply tells you what you want to hear. In your first consultation, ask:
-
Based on the facts I’ve shared, what are the strongest parts of my case?
-
What are the most significant risks or vulnerabilities?
-
What is your estimated range of potential outcomes (e.g. settlement, damages, award)?
-
What will likely be required in discovery, document demands, expert testimony, or defenses from the other side?
Watching how transparently and candidly a lawyer discusses risk gives you insight into whether they really understand the mechanics of FINRA disputes — and whether they are aligned with your goals. One warning sign: an attorney who overpromises or downplays weaknessesm this maybe a sign that an attorney lacks signficiant experience in this field of law.
3. Which FINRA lawyer on your team will work on my case, and what is their role?
Even if the lead attorney is stellar, many cases involve teams — associates, juniors, paralegals, document reviewers, expert consultants, etc. You should know:
-
Will you personally handle all key aspects (strategy, motions, hearings), or will you delegate?
-
If delegated, who are the other team members (names, experience levels)?
-
How will you communicate internally and with me (updates, review of drafts, approvals)?
-
What is your turnaround time for responding to my questions or decisions?
Sometimes attorneys “pitch” you themselves but then farm out much of the work to less experienced juniors. That can be okay — so long as you understand it and are comfortable with their supervision and competence. Ask for clarity up front.
4. How do you conduct arbitration panel selection, witnesses, document management, and potential settlement?
This question drills into how they plan to run your case. It helps you gauge whether the attorney has both tactical and procedural sophistication.
Ask:
-
How will you evaluate and propose arbitrators from FINRA’s roster (i.e. which types of arbitrators might be favorable or unfavorable?)
-
What is your approach to selecting or structuring the documentary record (how to present exhibits, motions to compel, document production)?
-
How do you plan to develop witnesses and expert testimony (when to bring experts, choice of fields, cross-examination strategy)?
A thoughtful, methodical attorney will walk you through these issues (at least in outline) and show that they are not simply reactive but planning ahead. In FINRA matters, procedural missteps or weak case architecture often spell defeat. Things can change over time, having a rough idea of how issues are handled is important.
When interviewing FINRA lawyers, treat the process as both a technical and personal fit decision. You want someone with strong FINRA-specific credentials, but also someone you feel you can trust, communicate with, and rely on in a complex, high-stakes environment.
By pressing a potential FINRA lawyer with these questions, you not only get substantive information about how they think and operate — you also test their transparency, professionalism, and readiness. That alone can tell you a lot.
Bakhtiari & Harrison is a premier nationwide law firm, focused on representing clients resolving securities industry related disputes through arbitration and state and federal court litigation. The firm’s partners have extensive experience in securities, employment and regulatory matters. Our focus is on delivering strategic and creative client-centric solutions.
That’s why we suggest contacting Bakhtiari & Harrison, a firm with outstanding results and client service in the investment field. With their proven track record and team of committed professionals, Bakhtiari & Harrison can craft strategies to meet your specific financial objectives. Contact FINRA lawyers at Bakhtiari & Harrison today.