This post first appeared on the Securities Arbitration Alert blog. The blog’s editor-in-chief is George H. Friedman, Chairman of the Board of Directors for Arbitartion Resolution Services, Inc. Houston area delivery drivers who generally did not cross state lines were not of the class of workers exempt from FAA coverage Whether the Federal Arbitration Act (“FAA”) section 1 exemption extends to…
This post first appeared on the Securities Arbitration Alert blog. The blog’s editor-in-chief is George H. Friedman, Chairman of the Board of Directors for Arbitartion Resolution Services, Inc. A coalition of over a hundred consumer advocacy groups has written to CFPB Director Chopra, urging that the Bureau exercise its Dodd-Frank authority to regulate consumer financial arbitration. We reported in…
This post first appeared on the Securities Arbitration Alert blog. The blog’s editor-in-chief is George H. Friedman, Chairman of the Board of Directors for Arbitartion Resolution Services, Inc. The comment period closed earlier this month on FINRA’s proposed changes to the expungement process. The institutional comment letters – including those from PIABA, NASAA, and SIFMA – were mostly supportive, but…
This post first appeared on the Securities Arbitration Alert blog. The blog’s editor-in-chief is George H. Friedman, Chairman of the Board of Directors for Arbitartion Resolution Services, Inc. Just as we were putting SAA 2022-33 (Sep. 1) to bed came word that the AAA had revised its Commercial Arbitration Rules and Mediation Procedures, effective September 1. We ran a Short…
This post first appeared on the Securities Arbitration Alert blog. The blog’s editor-in-chief is George H. Friedman, Chairman of the Board of Directors for Arbitartion Resolution Services, Inc. The split Ninth Circuit Panel that had ruled a year ago on California’s AB-51 has sua sponte withdrawn the decision and dissent and ordered a rehearing. Years ago, kids resolving street game-related arguments…
This post first appeared on the Securities Arbitration Alert blog. The blog’s editor-in-chief is George H. Friedman, Chairman of the Board of Directors for Arbitartion Resolution Services, Inc. Michigan has adopted a new rule of attorney professional conduct requiring informed client consent to predispute arbitration agreements (“PDAA”) in retainer agreements. The Supreme Court Order issued June 8 announces promulgation of a new Rule…
This post first appeared on the Securities Arbitration Alert blog. The blog’s editor-in-chief is George H. Friedman, Chairman of the Board of Directors for Arbitartion Resolution Services, Inc. A broad coalition of a dozen consumer advocacy groups – including PIABA – has written to the SEC. urging that the Commission investigate the use by RIAs of mandatory predispute arbitration…
As widely reported in the media, a former Merrill Lynch broker, who had earlier this year been released from prison after serving a three-plus year sentence resulting from his misconduct, was hit with a more than $7 million Award. Financial services media widely reported recently that former broker Tom Buck had been released from prison…
The Supreme Court has decided Morgan v. Sundance Inc., No. 21-328, ruling unanimously that there is no prejudice requirement under the Federal Arbitration Act (“FAA”) for a court to find a waiver of arbitration rights. We reported in December 2021 that the Supreme Court had granted Certiorari in four cases involving arbitration, among them Sundance. Specifically, the Court on November 15 agreed to review Morgan v. Sundance…
FINRA Dispute Resolution Services (“DRS”) posted case statistics through March, with the overall case filing trends – with one exception – about the same as before. We summarized these stats in SAA 2022-16 (Apr. 28), and promised an analysis in this week’s Alert. While we still caution that results after three months are a still somewhat small sample, we…