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Contrasting arbitration of securities disputes with litigation in the courts, this book reviews the interaction of federal securities laws and arbitration in light of caselaw. This review culminates in the recent U.S. Supreme Court cases supporting the validity of predisputed arbitration agreements even when there are claims of fraud and violations of federal securities law. The common law view of arbitration and the Federal Arbitration Act of 1925 are discussed, as are the arbitration process and forums within the securities industry. Procedures (e.g. evaluating the merits of a claim, presenting a securities case to arbitration panels throughout the nation, and appealing an arbitration award) are also examined. It is the only book to date to discuss the new AAA Securities Arbitration Rules.
Ideal for lawyers and securities industry professionals, the book discusses the theories for brokerage firm liability such as securities fraud, churning, the Know Your Customer rule, suitability, problems with trades (e.g. failure of execution or orders), and improper record keeping. It also discusses the use of arbitration to resolve disputes between those working in the industry and reviews the requirements for statements of claims in an arbitration process. Methods of evaluation, statutes, and forms are provided, which will be helpful to both the individual and the lawyer contemplating prosecuting a securities claim in arbitration versus litigation.
List of contents
Preface
Dispute Resolution Methods
The History of Arbitration
The Law of Arbitration Generally
Statutory Arbitration
Finality of Arbitration
Agreement to Arbitrate Securities Disputes
The Problem of Arbitration and The Securities Law
Interpretations of Federal Arbitration Act in Securities Cases
Forums for Securities Arbitration
Litigation or Arbitration? Securities Industry Arbitration Panels
Types of Claims in Securities Cases
Procedures To Arbitrate a Claim in Securities Arbitration
Discovery and Other Pre-Hearing Matters
The Hearing
The Award
Post Award Matters and Appeal of the Arbitration Award
The Future of Securities Arbitration
Index
About the author
J Kirkla Grant
