Meyer Wilson Werning calls on FINRA to redirect $100 million rebate toward unpaid investor awards
Investment fraud attorneys say the move rewards the very firms responsible for the crisis while winning investors remain empty-handed
COLUMBUS, Ohio, March 30, 2026 (GLOBE NEWSWIRE) — As FINRA prepares to distribute $100 million in fee rebates to its member firms on March 31, investment fraud attorneys at Meyer Wilson Werning are urging the organization to redirect those funds toward the thousands of investors who have won arbitration awards, and never collected a dime.
The rebate marks the second consecutive year FINRA has returned surplus funds to member firms, following a $50 million payout last July. Meanwhile, nearly 30 percent of investors who win FINRA arbitration awards never get paid. From 2012 to 2017 alone, unpaid awards totaled approximately $200 million.
“FINRA has $100 million in surplus funds and chose to give it back to the very firms it regulates rather than address a crisis that has plagued investors for over two decades,” said David P. Meyer, Managing Principal of Meyer Wilson Werning. “This is a slap in the face to every investor who went through the time, expense, and emotional toll of proving their case at a hearing, winning an award, and then being told they’ll never collect.”
Broker-dealers face minimal net capital requirements and are not required to carry errors and omissions insurance. When misconduct occurs, firms can dissolve before an investor collects, a structural gap FINRA has the authority, and now the funding, to address.
According to investor advocacy data, nearly 30 percent of investors who win FINRA arbitration awards never get paid, totaling approximately $200 million in unpaid awards from 2012 to 2017 alone, with some years seeing more than 35 percent of awards go completely uncollected.
PIABA, the national investor advocacy bar association, is also raising alarms over FINRA’s rebate decision. Meyer Wilson Werning urges policymakers and regulators to implement structural reforms requiring member firms to maintain adequate capital and insurance coverage.
For more information, visit investorclaims.com.
About Meyer Wilson Werning
Meyer Wilson Werning is a national investor protection law firm dedicated to holding Wall Street accountable to Main Street. Since 1999, the firm has recovered over $350 million for investors and fraud victims harmed by broker misconduct, Ponzi schemes, elder exploitation, and crypto exchange failures. Led by founding partner David Meyer, PIABA Past President and author of the Amazon #1 Bestseller The Investor Protector, and principal Courtney Werning, current PIABA Vice President, the firm handles FINRA arbitration, securities litigation, and class actions on a contingency fee basis. Visit investorclaims.com to learn more.
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