Is a securities arbitration award subject to judicial review?
Yes, a securities arbitration award is subject to judicial review in Florida. This means that a court can review the award to determine if it is valid and enforceable. Any person, including the parties to the arbitration, can request that the court review the arbitration award. The court will review the award to determine if the arbitrator followed any legal rules or procedures during the arbitration process. The court will look for evidence that the award was made in a fair, impartial manner and that the decision was made in accordance with the legal facts of the case. The court can also review the award to ensure that the arbitrator did not exceed their powers or act in an arbitrary or capricious manner. If the court determines that the arbitrator acted in an unfair or unjust manner, or that the award is not in accordance with the legal facts of the case, then the court can set aside the award or modify it in order to make it valid and enforceable. In Florida, the court does not have the power to review the merits of the award, meaning the court will not review the facts or decide the merits of the case in order to determine if the award should be set aside. The court will only review the award to ensure that it was made in accordance with legal rules and procedures.
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