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Simple English definitions for legal terms

Securities dispute resolution: Experts

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A quick definition of Securities dispute resolution: Experts:

Experts are people who can give their opinions on different issues related to securities disputes. They can help explain complex transactions and provide information to support claims made by either the person making the claim or the person defending against the claim. The decision to hire an expert depends on factors like the type of claim being made and the cost of the expert compared to the amount of money being claimed. The Financial Industry Regulatory Authority (FINRA) has rules related to experts, including allowing the arbitration panel to decide whether to allow an expert witness to testify. Once an expert witness is allowed to testify, the party that called the expert asks questions to the expert through a direct examination, and the opposing party may question the expert through a cross-examination. The arbitrators may also question the expert.

A more thorough explanation:

Experts are individuals who can provide their opinions on various issues related to securities disputes. They can offer necessary information to support claims made by either the claimant or the respondent. Experts can help explain complex transactions and provide expert testimony to support a party's case.

For example, in a securities dispute, an expert may be hired to provide an opinion on the management of an account or the calculation of profits. The decision to hire an expert depends on several factors, such as the type of claim or defense being made, the cost of the expert compared to the amount claimed as damages, and the need for expert testimony compared to background information.

The Financial Industry Regulatory Authority (FINRA) provides rules related to experts in securities disputes. These rules include:

  • Rule 9263, which authorizes the Hearing Officer to exclude irrelevant, immaterial, unduly repetitious, or unduly prejudicial evidence, including expert testimony.
  • Rule 9242(a), which authorizes the Hearing Officer to order a party to provide an expert's qualification statements, publications, and involvement in other proceedings.
  • Rule 9242(b), which prohibits a former officer of FINRA from testifying within a year of leaving FINRA.
  • Rule 12602 (for customer disputes) and Rule 13602 (for industry disputes), which permit expert witnesses to attend all hearings absent persuasive reasons to the contrary.

The arbitration panel determines whether to allow an expert witness to testify. The standards used in litigation provide a helpful guide. Federal courts may allow expert witnesses to testify if their knowledge helps the trier of fact to understand the evidence or to determine a fact in issue, the testimony is based on sufficient facts or data, the testimony is the product of reliable principles and methods, and the witness has reliably applied the principles and methods to the facts of the case. State courts may impose different rules. Arbitrators are not bound by either federal or state standards in evaluating the expert.

Once an expert witness is permitted to testify in arbitration, the party that called the expert asks questions to the expert through a direct examination. The opposing party may question the expert through a cross-examination. The arbitrators may also question the expert.

Securities dispute resolution: Enforcing awards | Securities dispute resolution: Filing a complaint

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babycat
15:43
and I honestly don't think the t14 require significantly more intellect than any other law school. the content is pretty much the same
15:44
the rigor of the T14 law schools is almost entirely the result of who they allow to attend
BulbasaurNoLikeCardio
15:44
Well so far Vandy is highest ranked I went for, hopefully they like me. Its not really the academics/rigor. Following rules and meeting standard is easy it is the competition for class rank and with other students that I think would be my greatest struggle
JumpySubsequentDolphin
15:45
but doesn’t grade inflation at the top schools almost make it easier to get higher grades than it does at >t14
babycat
15:45
@info-man: agreed
babycat
15:48
just my opinion but grade inflation is probably more of an undergrad thing since law school grades tend to be on a curve
shaquilleoatmeal
15:49
Leaving the office just now and this chic is blasting glorilla in the elevator...doesn't match our work location vibe lmao
shaquilleoatmeal
15:49
shits gonna be stuck in my head all night now
glovediedthisishismom
15:50
northwestern has a dude with a murder charge in their class this year dont they
shaquilleoatmeal
15:50
what^^
shaquilleoatmeal
15:50
no way
HopefullyInLawSchool
15:50
2 next year
glovediedthisishismom
15:50
google it shaq some dude got his degree in prison and is now at nw
HopefullyInLawSchool
15:50
Bro is studying to beat the charges
shaquilleoatmeal
15:52
While representing himself in court, McKinley's sentence was reduced from 100 years to 25, a sentence he served in full. While still incarcerated, he took the LSAT, or Law School Admission Test, and applied to law school - no shit, thats impressive how much he lowered his sentence being pro say
JumpySubsequentDolphin
15:52
@HopefullyInLawSchool: that made me lol
babycat
15:52
there was a convicted rapist admitted to some southern law school not too long ago
shaquilleoatmeal
15:53
smh
glovediedthisishismom
15:53
fun fact gangs specifically have all their shooters be 12-16 year olds so they can go to juvee and get their charges sealed like nothing happened
shaquilleoatmeal
15:56
yo, what should i pick up for dinner?? Cava or Sweetgreen
glovediedthisishismom
15:56
sweetgreen
glovediedthisishismom
15:56
i wish i had one close to me
babycat
15:56
shaq how did your date with Uber girl go?
soyalmondoatmilk
15:57
OMG I LOVE SWEETGREEN
shaquilleoatmeal
15:57
lmaooo oh man i gotta find a way to make a long story short - sg it is ! What do you guys usually get? I'm tired of my same old same old
soyalmondoatmilk
15:57
i love the harvest bowl
soyalmondoatmilk
15:57
their salmon is good too
shaquilleoatmeal
15:58
@babycat: you gonna be on later tonight? i gotta get home, shower, and then I can hop back on and give you the break down lmao
shaquilleoatmeal
15:58
i dont know how much i trust salmon from quick take out spots so i've never tried it there. Harvest bowl is OG and always good for when you need a quick decision
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