Is there a procedure for appealing a securities arbitration ruling?

Yes, there is a procedure for appealing a securities arbitration ruling in California. Generally, parties may only appeal the arbitrator’s ruling if they can show one of the following: (1) the ruling was issued beyond the arbitrator’s power; (2) the ruling was procured by corruption, fraud, or other undue means; (3) the arbitrator was guilty of misconduct which prevented a fair hearing; or (4) the award is so imperfectly executed that a final and definite award was not made. In California, the appeal of a securities arbitration ruling must be made to the California Supreme Court within 90 days of the date of the ruling. In order to appeal, the party must file a written petition for a writ of review and must pay the filing fee. The opposing party then has 20 days to respond to the petition by filing an answer. After the answer is filed, an appellate court decides the appeal. The court reviews the transcript of the arbitration hearing and any other evidence in the case to determine whether the arbitrator’s ruling should be overturned. If the court overturns the arbitrator’s ruling, the case will be sent back to the arbitration panel for a new hearing.

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Is there a procedure for appealing a securities arbitration ruling?

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