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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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WorthlessAttractiveZombie
9:38
oh that's right USC might release
soapy
9:43
USC still has not looked at my app
WorthlessAttractiveZombie
9:43
when did you submit soapy?
soapy
9:44
10/16
WorthlessAttractiveZombie
9:44
to be fair it took them almost 2 months for me to go under review
soapy
9:44
Feelin a bit stressed, as I've got no date change for Michigan either despite applying 10/7
WorthlessAttractiveZombie
9:45
I have not had a date change either for Mich but I've seen people get in without one so who knows
I applied 9/25 to like 6 schools and some (Houston) have no date change yet so dw
soapy
9:46
But do people get in without addresses going long?
WorthlessAttractiveZombie
9:46
it's tough to tell because a lot of people type out their addresses long to begin with
soapy
9:46
Ah. I didn't. Looking back, my Mich supplement kind of sucks, so there's that
Mich overrated (Dean Z please let me in even tho i didnt apply and I am below both 25ths)
ClassyPleasantHeron
10:01
The "date changes" at Michigan really don't mean anything. We had to do them in undergrad admissions whenever a Georgia applicant picked the country instead of the state, because we'd have to remove the TOEFL requirement and reassign the application from the international application readers.
soapy
10:06
Classy, does that mean they may look at your application, and that look doesn't necessarily trigger any date change?
1a2b3c4d26z
10:06
Man
1a2b3c4d26z
10:07
Walkin to the bus
1a2b3c4d26z
10:07
What a good day to get into law school
ClassyPleasantHeron
10:11
@soapy: I don't know for sure about the law school. For undergrad, once the application is complete, it's assigned to a reader the following Monday. If we had to make any changes, it's because a reader saw something that needed to be changed and the application needed to be re-read after that change.
soapy
10:12
Ahh, got it. Thank you for the insight!
ClassyPleasantHeron
10:14
You're welcome. FWIW, I have no idea what's up with the address changes. We didn't have to do any of that, except for the Georgia state vs country kinds of things.
soapy
10:15
I've heard it theorized that some schools will change the address from "St." --> "Street" as they prepare to send out admissions packets. That's the rumor, anyways.
i think it just indicates a change in status like under review or stages of review
my stanford address went long as soon as it was marked complete lmao
soapy
10:25
I saw some Reddit adcom say that they can see any time we refresh the status checker; I wonder if it's a red flag if an applicant's checked it like 50 times in a day?
soapy
10:25
Also, can we send another LoR to a school that we've already applied to?
soapy
10:26
Or another essay?
10:30
i'll allow it
soapy
10:31
<3 thanks Fart Butt
1a2b3c4d26z
10:31
If I get rejected by a school bc I check my statuses during work then it wasn’t meant to be
10:32
cautionary tail re reddit posts: https://www.youtube.com/watch?v=5jZAQAuqSfs
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