Are there any special considerations for securities arbitration?
Yes, there are special considerations for securities arbitration in Ohio. One of the most important considerations is the type of securities being arbitrated. Generally speaking, securities arbitration in Ohio is governed by the Ohio Revised Code which states that all securities transactions must be conducted through a qualified broker dealer. Any dispute arising out of a securities transaction must be resolved through arbitration under the applicable Ohio securities laws. Another consideration is the potential recovery from a successful arbitration. Generally speaking, under Ohio law, the potential recovery of damages in a securities arbitration is limited to the lesser of the actual damages sustained by the investor or the brokerage fees paid to the broker dealer. Also, in order to receive an award in a securities arbitration claim, the investor must show that the broker dealer has violated the Ohio securities laws, acted recklessly, or breached some fiduciary duty. Finally, there are special procedural considerations for securities arbitration in Ohio. Generally, the timeline of the arbitration proceedings is set forth in the contract between the investor and the broker-dealer. Also, the Arbitration Agreement typically outlines which state or federal court will oversee the arbitration proceedings in Ohio. In summary, there are several special considerations when engaging in securities arbitration in Ohio. These considerations include the type of securities, the potential recovery, and the special procedural considerations. To ensure a successful arbitration, it is important to understand and comply with all applicable Ohio securities laws.
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