What is the scope of a securities arbitration award?
A securities arbitration award is the specific decision made by a panel of three arbitrators regarding a securities dispute. This award will typically relate to a claim for damages or a claim for an injunction. In Florida, a securities arbitration award can include a variety of remedies, including those relating to money, securities, or other forms of relief. The scope of the award will depend on the particular dispute at hand, but can include: • Monetary damages for losses caused by the dispute. This could mean compensation for, losses, expenses, and attorneys’ fees. • Orders to return funds, securities, or other property to the claimant or release of funds, securities or other property wrongfully possess by the defendant. • An injunction, or court order, requiring the defendant to perform or refrain from certain activities associated with the securities dispute. • A public statement of apology from the defendant. • An order requiring the defendant to pay restitution or disgorgement of funds. In Florida, a securities arbitration award may be challenged if either party believes the award is not supported by the evidence or the law, or that the arbitrators made errors in the scope of the award. In such cases, the party must file an objection to the award with the arbitration tribunal in a timely manner.
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