Can a securities arbitration award be appealed on the basis of legal errors?

Yes, a securities arbitration award can be appealed on the basis of legal errors in the state of Florida. The Florida Supreme Court has determined that parties to arbitration agreements in Florida have the right to appeal an arbitration award on the basis that the arbitrator made legal errors or misinterpreted the law. This means that if the parties to an arbitration agreement in Florida can prove that an arbitrator erroneously applied the law to the facts of the case, then the court may overturn the arbitration award and allow the parties to file a new claim. At the same time, the Florida Supreme Court has determined that an appellate court should only overturn an arbitration award on the basis of legal errors when those legal errors involve a gross misinterpretation of the law or a clear disregard for the law. This means that in order for an appeals court to overturn an arbitration award on the basis of legal errors, the parties must demonstrate that the arbitrator committed gross errors of law that had a material and substantial impact on the outcome of the case. The appeals court may also examine the award for irregularities or procedural errors that impacted the fairness of the proceedings. If the appeals court concludes that the arbitrator has engaged in any fraudulent or deceptive conduct or has failed to follow the terms of the arbitration agreement and the applicable rules of the arbitration forum, then the appeals court may overturn the arbitration award.

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Can a securities arbitration award be appealed on the basis of legal errors?

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