Do victims of securities fraud have the right to a jury trial?

In Virginia, victims of securities fraud do not have the right to a jury trial. Instead, they are subject to alternative dispute resolution procedures such as arbitration, which are designed to be less expensive and less time-consuming than traditional courtroom litigation. Securities arbitration is governed by the Virginia Securities Act of 2002. Under this law, victims of securities fraud can file a claim with the Virginia State Corporation Commission, or SCC, for wrongs done to them by a broker, investment advisor, or other securities-related entity. The SCC will then assign the claim to a state-authorized arbitration panel for review and resolution. This arbitration panel has the authority to grant remedies such as awarding monetary damages or ordering the rescission of a securities transaction. The decision of the arbitration panel is final and not subject to further review. There is no right to appeal or to take the matter to a jury trial. Moreover, arbitration proceedings are conducted in private and the parties are prohibited from discussing the proceedings outside of the panel. Securities arbitration is an important tool for victims of securities fraud to receive a fair resolution of their claims. Although they do not have the right to a jury trial, they can take comfort in knowing that a fair and impartial panel of experts will be considering the merits of their claims and awarding appropriate relief.

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Do victims of securities fraud have the right to a jury trial?

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