Does a securities arbitration award have the same legal effect as a judgment in a court of law?

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What happens if the parties to a securities arbitration case do not agree to a settlement?
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Are there any limitations on the amount of punitive damages available in a securities arbitration case?
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Are there any special rules for discovery in a securities arbitration case?
How does FINRA investigate and adjudicate disputes?
Do securities arbitration awards require payment of costs and attorney fees?

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