As a financial institution, your business faces heavy regulations at every turn from federal and state governments. Because of this, it can be easy for another party to sue your business, or you may find it difficult to enforce a broken contract in court. This is where a bank expert witness can assist you, as they can help articulate your complex, jargon-filled arguments to judges and juries in layman’s terms.
Advantages of an Expert Witness
When using an expert witness in a court of law, your party’s attorneys will build a case supporting the expert’s reputation as a specialist with deep knowledge on the subject matter that pertains to your case. The job of an expert witness is to appear to have the most valued opinion on your case. This can boost the credentials of your argument if their opinion sides with it.
What Makes an Expert Witness?
As “expert” implies, these witnesses have accumulated their expertise through years in their respective field, one related to the case. Additionally, peer recognition through multiple-authored works, licenses, doctorates, awards or certifications can establish credentials.
Financial Expert Witnesses
Expert witness specific to financial and banking matters can cover a wide range of subjects, including corporate finance, financial analysis and futures trading. They can provide professional opinions on fraud, fiduciary duties, guarantees, risk, credit, liability and more.
When done correctly, expert testimony bolsters your case, but selecting the wrong witness can potentially result in dire consequences. Your witness will be subject to cross-examination from the opposing party in order to expose any holes in testimony or reliability. Be sure to do your due diligence when researching. Make sure all prospective expert witnesses have a track record of success in court.
Protecting both the integrity and finances of your institution are paramount responsibilities. Investing in a reliable, trustworthy financial expert witness can be the difference between victory and defeat.