Is a securities arbitration award subject to judicial review?
Yes, a securities arbitration award in New Hampshire is subject to judicial review. The New Hampshire Supreme Court stated in an opinion that “Any award of a securities arbitration tribunal is subject to judicial review.” This means that if a party who is dissatisfied with the award seeks relief, they are able to go to court to appeal the award. The party who is appealing the award must have a valid reason to do so. This could include proving that the law was not correctly applied or that the facts of the case have been misinterpreted. The court will look to see that the award was made without bias or misconduct. If the court finds that the award was made in bad faith or with an improper purpose, they may set aside the award. The securities arbitration process can save a lot of money and time compared to going to court. However, the awarding party should still be aware that the award is subject to judicial review. If a party is not satisfied with the award, they may be able to have the court review the award and make an appeal. It is important for the parties to understand this when going through the securities arbitration process.
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