Are there any restrictions on the ability of a securities arbitration panel to award attorney fees?

In Washington state, securities arbitration panels are limited in their ability to award attorney fees. Generally speaking, the arbitration panel can only award attorney fees to either the party who initiated the arbitration claim or the party who was found liable in the arbitration award. Furthermore, even if the winning party is entitled to recover attorney fees, the amount awarded must be reasonable and approved by the arbitration panel. In addition, the arbitration panel must also consider a number of factors when deciding whether or not to award attorney fees, including the complexity of the dispute, the reasonableness of the attorney’s conduct, the amount of attorney fees requested, and the circumstances of the case. It is also important to note that in some cases, the arbitration panel has the discretion to award attorney fees to the losing party, in order to ensure that justice is served. In conclusion, the ability of a securities arbitration panel to award attorney fees is restricted by the arbitration panel’s discretion, the complexity of the case, the reasonableness of the attorney’s conduct, and the amount of attorney fees requested. As such, it is important to keep these factors in mind when preparing to file an arbitration claim in the state of Washington.

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Are there any restrictions on the ability of a securities arbitration panel to award attorney fees?

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