Over the years, to respond to criticism that its arbitrators are biased in favor of the securities industry, FINRA has implemented a series of reforms to its arbitration rules.  It tweaked the definition of “public” and “non-public” arbitrators (the two classifications FINRA uses) to decrease the chance that a “public” arbitrator would have any affiliation … Continue reading FINRA Proposes Bungling “Public” and “Non-Public” Arbitrator Definitions →

The circuit courts continue to refine the definition of the term “customer” under FINRA Rule 12200.  A “customer” can compel a broker-dealer to arbitrate a dispute even in the absence of a pre-dispute arbitration agreement.  FINRA does not define “customer,” except for its mention in Rule 12100(i) (a “customer shall not include a broker or … Continue reading Second Circuit Adopts Bright-Line Definition of FINRA “Customer” For Arbitration Purposes →

FINRA announced today the formation of a new Arbitration Task Force “to consider possible enhancements to its arbitration forum to improve the transparency, impartiality and efficiency of FINRA’s securities arbitration forum for all participants.”  The 13-member Task Force will be Chaired by Professor Barbara Black, my former colleague and frequent co-author, and will include forum arbitrators, … Continue reading FINRA Appoints New Arbitration Task Force →

For those interested in the field of securities dispute resolution, check out this new blog, just launched by Securities Arbitration Commentator (http://www.sacarbitration.com/blog/). Here is its opening announcement: The Securities Arbitration Commentator (“SAC”) is just delighted to welcome you to our new blog, through which we will keep followers informed of key developments in the securities dispute resolution … Continue reading Securities Arbitration Commentator Launches New Blog →

From FOI, Prof. Ron Aronovsky (Southwestern Law) Dear Colleagues: Registration is now open for the AALS ADR Section’s Eighth Annual Works-in-Progress Conference! The Conference:  Southwestern is honored to host this year’s WIP Conference.  The Conference has traditionally provided a welcoming and interactive forum where ADR scholars from across the country can share their current research, … Continue reading Registration Now Open for Fall 2014 ADR Works in Progress Conference →

Jeffrey T. Zaino, a Vice President at the American Arbitration Association, offers this guest blog post on developing a career as an ADR neutral: Developing a career as an arbitrator or mediator can be very challenging.  Before you consider moving into the field it is important that you talk to those arbitrators and mediators who … Continue reading Quick Tips for Developing Your ADR Career →

I am passing along the following message from Tracey Frisch, Staff Attorney of the American Arbitration Association: Greetings, The AAA is looking to compile a list of law school clinics that would provide legal representation to self-represented parties in AAA administered arbitrations and mediations.  If there is a clinic at your school that would provide … Continue reading AAA Seeking Law School Clinics to Represent Parties in Arbitration and Mediation →

I blogged yesterday (here) about FINRA’s Board of Governors’ Decision finding that Schwab violated FINRA’s rules by inserting a class action waiver in the PDAA in its customer agreement.  A few additional aspects of the decision are worth mentioning. First, FINRA’s Enforcement Department appealed the lower hearing panel’s adverse ruling to FINRA’s National Adjudicatory Council … Continue reading More on FINRA’s Ruling in the Schwab Class Action Waiver Case →

From Ethan Katsh (U Mass): The 2014 International Online Dispute Resolution Conference will be held in Silicon Valley and San Francisco, June 25-27, 2014.  ODR 2014 <http://www.odr2014.org>  will bring together the technology, law and dispute resolution communities, academic researchers, representatives of  financial institutions, ecommerce and social media companies, and social justice advocates using innovative technologies … Continue reading ODR Conference in June 2014 at Hastings/Stanford →

In a stunning but hoped-for result (based on am amicus brief I co-authored in the case), FINRA’s Board of Governors reversed a disciplinary hearing panel decision in the FINRA v Schwab enforcement action. (See some of my previous blog posts on the subject, here, here and here.) That hearing panel had held, among other things, that Schwab’s class action … Continue reading FINRA Reverses Hearing Panel in Schwab Enforcement Case: Class Action Waiver Violates FINRA Rules →