Does a securities arbitration panel have the power to award punitive damages?

In Kansas, securities arbitration panels do not have the power to award punitive damages. Punitive damages are awarded by courts as a form of punishment and to discourage similar behavior in the future. In Kansas, the Uniform Arbitration Act does not grant arbitrators the ability to award punitive damages to either party. Furthermore, when parties agree to arbitration, they generally waive the right to punitive damages. As such, arbitrators in Kansas do not have the power to award punitive damages as part of their decision. However, there may be other forms of relief that a securities arbitration panel may be able to award. For instance, the arbitration panel may be able to award compensatory damages to the parties involved in the dispute if they find that one of the parties has been wrongfully harmed. Compensatory damages seek to put the wronged party in the same position that they would have been in had the wrong not occurred. The arbitration panel may also be able to order specific performance or force a party to take certain action in order to resolve the dispute. Overall, securities arbitration panels in Kansas do not have the power to award punitive damages, but they may be able to award other forms of relief depending on the facts of the dispute. It is important to remember that the Uniform Arbitration Act does not allow arbitrators to award punitive damages, so parties should not expect that the panel will be able to do so.

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