Sept. 7, 2021 — Maurice Wutscher attorney Brady Hermann is quoted in an AdvisorHub article regarding a reluctance among lawyers to use Zoom in Finra arbitration hearings.
From the beginning of the pandemic in March 2020 through July 31, 2021, data from the Financial Industry Regulatory Authority show that in 57%, or 453, of the 792 cases in arbitration, one of the parties objected to having the hearing on Zoom, opting to delay until in-person hearings resumed.
Finra resumed in-person hearings on Aug. 2 but still gives the option for a Zoom hearing if both parties agree.
Mr. Hermann, who represents broker-dealers at Finra arbitration, said “[m]ost parties are not going to be in favor of it.”
“Over Zoom, attorneys find it difficult to read body language, to make sure everyone’s paying as close attention as they should,” he said. “It makes it a little bit more difficult, making sure everybody’s looking at the right exhibit or the right section of each exhibit.”
Brady Hermann is senior counsel in the Boston and New York offices of Maurice Wutscher LLP. He regularly represents financial services companies including banks, broker-dealers, financial advisors, financial asset buyers and third party debt collectors in individual, class action and regulatory matters. He has successfully represented clients throughout the country against claims for violations of securities laws, the Fair Debt Collection Practices Act, the Telephone Consumer Protection Act, the Fair Credit Reporting Act, and various state consumer protection statutes.