Are there any special rules concerning attorney fees in securities arbitration?
In Kansas, attorney fees in securities arbitration cases are governed by the Kansas Uniform Arbitration Act, which outlines the general requirements for arbitration. The Act states that a party to an arbitration proceeding may be represented by, and have fees paid by, an attorney of their choice, unless specific provisions of the particular arbitration agreement require otherwise. Additionally, the Kansas Uniform Arbitration Act provides that the costs of the arbitration proceeding, including attorney fees, shall be determined and awarded by the arbitrators at the conclusion of the arbitration. Generally, attorney fees will be awarded to the prevailing party. The amount of the fee and who is responsible for paying it is determined on a case-by-case basis. In securities arbitration, the Uniform Code of Securities Arbitration (UCSA) provides some additional requirements and exceptions. For example, the UCSA states that in published securities arbitration decisions, attorneys’ fees and costs must be paid by the losing party, unless otherwise required by the agreement. In summary, Kansas has a Uniform Arbitration Act that requires the arbitrators to determine and award costs, including attorney fees at the conclusion of the arbitration. The Uniform Code of Securities Arbitration provides some additional requirements and exceptions when it comes to attorney fees in securities arbitration.
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