What happens if a party fails to comply with a securities arbitration award?
If a party fails to comply with a securities arbitration award in Alaska, they could face serious legal consequences. These consequences could include a fine, jail time, or both. The Alaska Securities Act requires parties to comply with the decisions made by a securities arbitration tribunal. If a party does not comply with a securities arbitration award, they can be charged with a Class B misdemeanor. This is punishable by a fine of up to $2,000 or up to 90 days in jail. The Alaska Securities Director can also enforce securities arbitration awards in civil court. If a party does not comply with a court order, they can face additional fines and jail time. The court can also order the party to comply with the award or face more significant penalties. The Securities Director can also apply to have an award enforced in federal court if the parties are outside of Alaska. In this case, the federal court can also impose fines and jail time if the party does not comply. In short, if a party fails to comply with a securities arbitration award in Alaska, they can face significant legal consequences. These penalties can include fines and/or jail time. The Alaska Securities Director and the federal court can also be used to enforce an award and impose additional penalties.
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