Follows SEC Lead in Upholding Rights to Due Process and Fundamental Fairness after 7 year delay in commencing proceedings. By Mark J. Astarita, Esq. Delays by regulators in bringing enforcement actions is a recurring problem for brokers and firms, as well as their defense counsel. As those of us who […]
Tag: Arbitration
NASD Expungement Proposal Tramples Brokers Rights
NASDR Proposal Contains Provisions to Continue Ignoring the Awards of Its Own Arbitrators, and to Fine Brokers Who Attempt to Obtain Relief From the Courts. By Mark J. Astarita, Esq. The problems associated with the NASD’s CRD Disclosure System are well known to visitors to SECLaw.com, as we have written […]
Misrepresentation in Securities Arbitration
MISREPRESENTATION IS ONE OF THE MOST used and abused claims in securities arbitration. A form of a fraud claim, misrepresentation involves knowingly making false statements that a listener will rely and act upon. Obviously, this violates a broker’s professional obligation to deal fairly with customers and breaches a customer’s […]
A Look Inside a Securities Arbitration Hearing 2023
Just What Happens at an Arbitration? By Mark J. Astarita, Esq. Past columns have touched on arbitration hearings, and have raised the question of just what happens during an arbitration hearing. There is apparently significant misconceptions about the hearing process. Hopefully I can clear some of this up, and provide […]
Suitability – Brokers Have to be Their Own Judge
By Mark J. Astarita, Esq. Suitability is an often misunderstood concept in the law. To most, it means that that brokers are required to ensure that their customers invest only in securities that are “suitable” for them. This oversimplification worries many brokers who, armed with this definition, often lament that […]
Settling the Matter
More brokers and firms are being forced to settle customer claims, particularly where the claim is less than the total arbitration expense. Settling the Matter By Mark J. Astarita, Esq. In June, we addressed how to avoid customer disputes. This month, we jump ahead to how to resolve them, either […]
Securities Arbitration Information Center
Featured Articles Introduction to Securities Arbitration – The ultimate primer on securities arbitration, authored by Mark J. Astarita, Esq., a New York securities attorney who has represented parties to securities arbitrations in virtually every major city for 20 years. An excellent introduction to the process. Featured Books Securities Regulation in a Nutshell – This […]
U-4 Arbitration Agreement Does Not Supercede Eariler, Broader Agreement
Bailey vs. Chase Securities, Inc., et al, 01-Civ-7222 (AGS), 2002 U.S. Dist. LEXIS 7788 (SDNY 5/1/02) Employment Discrimination * ADEA * SRO Rules (NASD Rule 10201) * Consolidation Issues (Bifurcation) * Arbitration Agreement (Form U-4) * Employment Agreement * Competing Agreements * Waiver * Prejudice to Party. The Form U-4 […]
Stay of Non Arbitrable Claims is Discretionary
Stay of Non-Arbitrable Claims is Discretionary Where Arbitrable Claims Exist Baggesen vs. American Skandia Life Assurance Corp. Baggesen v. American Skandia Life Assurance Corp. & Securities America, Inc., 2002 U.S. Dist. LEXIS 23411 (D. Mass, 12/5/02). FAA (§ 3) * Agreement to Arbitrate * Stay of Litigation * Scope of […]
State Laws Aimed At Arbitration Contracts Preempted
State Laws Aimed At Arbitration Contracts Preempted BRADLEY v.HARRIS RESEARCH, INC., No. 00-16021 (9th Cir., 12/28/01): Chem-Dry is a well-known provider of carpet cleaning services and HRI is a Utah corporation that franchises these outlets. HRI granted a Chem-Dry franchise to the Bradleys in 1983 and, in the Franchise Agreement, […]
