What is the standard of review in a securities arbitration proceeding?

In a securities arbitration proceeding, the standard of review is the legal principle that courts must follow when reviewing decisions made by an administrative agency or court. In North Carolina, the standard of review is determined by the North Carolina Administrative Procedure Act. This Act establishes a three-tier standard of review based on the type of decision being reviewed. The highest level of review is de novo review, which requires the court to analyze the facts of the case independent without giving any deference to the decision of the administrative body. The second tier of review is clear error review, which requires the court to defer to the decision of the administrative body unless it is clearly erroneous. The lowest tier of review is substantial evidence review, which requires the court to defer to the decision of the administrative body if it is supported by substantial evidence. In a securities arbitration proceeding, the North Carolina Administrative Procedure Act would require the court to review the decision of the arbitrators using the substantial evidence review standard. This means that the court must defer to the decision of the arbitrators unless it is unsupported by substantial evidence. The court must consider all of the evidence presented to the arbitrators and give deference to the arbitrators’ findings as long as there is substantial evidence to support the arbitrators’ decision.

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