Are there any special considerations for securities arbitration?
Securities arbitration involves the resolution of disputes between investors and securities brokers, dealers or exchanges. There are specific aspects of securities arbitration in the District of Columbia that must be considered. The Securities Arbitration and Review Board has exclusive jurisdiction over disputes between investors and brokers. This means that investors looking to submit a dispute must submit their claim to the Board. The Board is responsible for overseeing the process, including collecting evidence and hearing the claims of both parties. Investors should also be aware of the special time limits applied to securities arbitration cases. The District of Columbia requires all disputes to be filed within 9 months of the event taking place. This time limit begins from the date of the transaction or complaint, and can be extended by special permission. Investors must ensure they file their claim within this time limit or they may not be able to recover their losses. Another aspect to consider is the arbitration process itself. The proceedings will require investors and brokers to submit evidence and arguments before a panel made up of trained arbitrators. Decisions are binding, and the award is final unless there are exceptional circumstances. Special procedural rules and laws may also apply, so investors should seek legal advice from a qualified lawyer. Finally, it is important to remember that although securities arbitration is a fast and cost-effective way to resolve disputes, investors may not be able to recover all of their losses. This is because arbitration awards are often limited to the amount of money they initially invested.
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