RRADA’S MISSION STATEMENT

RRADA’s MISSION IS TO ACT AS A RESOURCE TO REGISTERED REPRESENTATIVES AND BROKER/DEALERS BY PROVIDING CURRENT REGULATORY UPDATES, INDUSTRY NEWS, EDUCATIONAL PROGRAMS, AND OTHER SERVICES RELATED TO THE DEFENSE OF CUSTOMER ARBITRATION PROCEEDINGS.

...RRADA LLC was formed by financial professionals and securities attorneys that have been involved in the securities business for a combined total of more that 50 years. RRADA’s staff includes former investment bankers, stockbrokers and securities attorneys who are experienced in the defense of customer arbitrations, SEC law, and industry self-regulatory law.

...Because of the significant rise in arbitration claims made in the past 10 years Registered Representatives, investment advisors, and broker/dealers have an increased cost and potential exposure in civil litigation. The registered representative, investment advisor, or broker/dealer is exposed to the cost of defending a lawsuit/arbitration as well as to the potential liability posed by a judgment/award. The most significant exposure of arbitration relates to the cost of defense since most cases are ultimately resolved and /or settled before the claim goes to hearing. Costs to defend a claim usually range from $25,000 to $50,000. RRADA realizes that there is a need for registered representatives, investment advisors, and broker/dealers to have adequate legal representation made available to them by attorneys experienced in securities law. RRADA has contracted with securities attorneys to provide a cost effective solution to its members by providing access to experienced securities attorneys.

...RRADA has a nationwide panel of attorneys to defend its members. As targets of litigation, our members join RRADA because they understand the value of the benefits that RRADA provides. Membership also promotes proactive behavior that avoids potential claims before they become an emotional and financial nightmare. RRADA’s objective is to defend its members and contain their liability costs.

WHAT RRADA IS
...RRADA is a privately owned for profit limited liability company. It provides direct memberships to individual registered representatives and indirect memberships to broker/dealers, whose registered representatives become members of RRADA. 

WHAT RRADA IS NOT
...RRADA is not an insurance company and it does not provide insurance for liability from a customer arbitration.RRADA is not a Pre-Paid Legal Services Plan and does not provide legal advice, legal services and legal representation.  All advice, services and representation are provided only by the attorneys selected by RRADA.

TERMS OF MEMBERSHIP AND RENEWAL
...RRADA members pay an annual membership fee of $1,500.00, which may be paid in equal monthly installments of $125.00 during each yearly membership term.

...Membership in RRADA is for a term of one (1) year from the date of acceptance by RRADA.  However, such membership shall, at the option of RRADA, immediately terminate if the registered representative should (a) cease to remain in good standing with RRADA; (b) cease to be properly licensed and registered with the National Association of Securities Dealers (NASD) and/or any State and/or Federal agency; (c) exit the securities business; (d) refuse or fail to comply with the rules of RRADA and/or refuse or fail to cooperate with any attorney’s selected by RRADA with regard to any arbitration coming within the scope of the RRADA membership defense benefit; or (e) refuse or fail to pay the monies due to any attorney selected by RRADA on any arbitration.

...RRADA reserves the right not to accept and/or not to renew the membership of any accepted registered representative member.  Unless RRADA elects, at its sole option, not to accept or renew such membership, the registered representative member agrees that this contract shall thereafter renew automatically for successive one (1) year term(s).  A registered representative member may terminate and not renew his or her membership by giving written notice to RRADA of his or her intention not to renew.  Notice must be received by RRADA no later than thirty (30) days prior to the annual renewal date.

...Unlimited referrals to experienced securities attorney, who have agreed to provide legal services to RRADA members at a discounted rate of twenty (20%) percent less than their lowest rate for such services, for all other securities related matters.Broker/Dealer members who are named in customer arbitrations in addition to a registered representative member affiliated with the broker/dealer member on a customer arbitration, for which the registered representative member is qualified for the member defense benefit, shall also be provided with legal representation on the same terms and conditions as the registered representative member.

RRADA has a nationwide panel of attorneys to defend its members. As targets of litigation, our members join RRADA because they understand the value of the benefits that RRADA provides.