I just learned that my University is closing its Ombuds Office, to save resources in these tight times, and instead is spreading out its functions among various related offices (student complaints to Dean of Students Office; employee disputes to Human Resources, etc.). It seems to me that this economically-driven decision clearly undervalues dispute resolution. While those … Continue reading Are Ombuds Offices Expendable?
Read Professor Black’s Securities Law Prof Blog posting here.
From p. 72 of the Treasury Department’s Financial Regulatory Reform blueprint (entitled “A New Foundation: Rebuilding Financial Supervision and Regulation”) released today: The SEC should study the use of mandatory arbitration clauses in investor contracts. Broker-dealers generally require their customers to contract at account opening to arbitrate all disputes. Although arbitration may be a reasonable … Continue reading The Obama Administration’s Plan for Securities Arbitration
Today, the United States Supreme Court granted a cert petition in Stolt-Nielsen S.A., et al., v. Animalfeeds International Corp., 548 F.3d 85 (2d Cir. 2008). The Court agreed to decide the question originally presented but ultimately not decided in Green Tree Financial Corp. v. Bazzle, 539 U.S. 444 (2003) — whether imposing class arbitration on parties whose … Continue reading Supreme Court grants cert in another FAA-related case
Yesterday, as reported here, President Obama appointed Kenneth Feinberg as the official in charge of determining limits to executive compensation at companies receiving federal bailout money. Mr. Feinberg is no stranger to making compensation determinations involving large sums of money, as he was in charge of determining payouts to families from the September 11 Victim’s … Continue reading Obama’s Executive Compensation “Czar” is ADR Savvy
Since her nomination, I have been wondering what impact The Honorable Sonia Sotomayor would have on the law of dispute resolution if she were confirmed as a Supreme Court Justice. While I could find no opinions she authored during her time on the Second Circuit Court of Appeals related to mediation law, I have read … Continue reading Judge Sotomayor and Arbitration Law
A propos of several recent postings on this blog about the Arbitration Fairness Act, Professor David S. Schwartz (U. Wisconsin) recently posted on SSRN an article entitled “Mandatory Arbitration and Fairness,” forthcoming in the Notre Dame Law Review. Here is the abstract: Until recently, it was understood that mandatory arbitration was a “do-it-yourself tort reform”: … Continue reading Mandatory Arbitration and Fairness
Yesterday, the North American Securities Administrators Association (NASAA) announced its full support (see press release here) of the Arbitration Fairness Act of 2009, which amends the Federal Arbitration Act to bar enforcement of pre-dispute arbitration clauses in a consumer, employment, franchise and civil rights dispute. NASAA, whose membership consists of the securities administrators in the 50 states … Continue reading NASAA Supports Arbitration Fairness Act
On May 5, I reported on this blog about the Arbitration Fairness Act of 2009, now introduced into both the Senate and the House to amend the Federal Arbitration Act to invalidate pre-dispute arbitration clauses in consumer services, franchise and employment agreements. As currently drafted, it is unclear whether the proposed Act would cover PDAAs … Continue reading Securities Arbitration and the Arbitration Fairness Act
Earlier this week, the Supreme Court, in a 6-3 decision, resolved a circuit split involving the Federal Arbitration Act. In Arthur Andersen LLP v. Carlisle, 2009 WL 1174853 (May 4, 2009), the Court interpreted section 16(a)(1)(A) of the Federal Arbitration Act, which provides a right to interlocutory appeal from “an order … refusing a stay of any action … Continue reading Supreme Court decides appealability under FAA
