Is the evidence presented in a securities arbitration hearing the same as in court?
No, the evidence presented in a securities arbitration hearing is not the same as in court. The process of evidence presented in a securities arbitration hearing is similar to a trial, however, they are not held in court. In securities arbitration hearings, an arbitrator listens to both sides of the case, reviews the evidence presented, and makes a decision. In a securities arbitration hearing, the rules of evidence are less strict than in court. Evidence may be allowed in a securities arbitration hearing, which may be excluded in a court of law. For instance, hearsay is permitted in a securities arbitration hearing, while it would be excluded in a court of law. Additionally, in a securities arbitration hearing, it is up to the arbitrator to decide the weight of the evidence, while in court, the judge is required to decide based on the strict rules of evidence. Securities arbitration hearings are often quicker than a court proceeding, and are often less formal. The rules of evidence are also more relaxed, and thus evidence which may be excluded in court may be allowed in a securities arbitration hearing. However, if either party does not agree with the decision of the arbitrator, they may appeal the decision in court.
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