On the heels of the Financial Industry Regulatory Authority’s (“FINRA”) record-breaking financial penalty against app-based investing platform Robinhood, it’s a fitting time to consider recent trends within FINRA’s industry-wide arbitration process.
As an organization, FINRA’s main function is to protect investors by upholding the integrity of the market through careful oversight of brokers in the United States. In doing so, FINRA operates a dispute resolution forum for arbitration and/or mediation of both intra-industry and customer-industry disputes. FINRA is also authorized by the United States government to protect investor interests through diligent screening and analysis of the billions of market transactions that occur each day. 
Whether a dispute arises between industry actors or between customer(s) and an industry actor, FINRA facilitates a neutral dispute resolution process by providing unbiased, trained arbitrators or mediators to guide cases through to completion. While the FINRA dispute resolution process proceeds similarly to a case within the court system, FINRA cases typically resolve more quickly and efficiently than traditional cases do, and appeals on FINRA outcomes are generally not accepted.