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Restoring Transparency To Automated Authority, Frank Pasquale
Restoring Transparency To Automated Authority, Frank Pasquale
Frank A. Pasquale
Leading finance, health care, and internet firms shroud key operations in secrecy. Our markets, research, and life online are increasingly mediated by institutions that suffer serious transparency deficits. When a private entity grows important enough, it should be subject to transparency requirements that reflect its centrality. The increasing intertwining of governmental, business, and academic entities should provide some leverage for public-spirited appropriators and policymakers to insist on more general openness. However well an "invisible hand" coordinates economic activity generally, markets depend on reliable information about the practices of core firms that finance, rank, and rate entities in the rest of …
The Arbitration Of Employment Disputes In The Securities Industry: A Study Of Finra Awards, 1986-2008, David B. Lipsky, Ronald L. Seeber, J. Ryan Lamare
The Arbitration Of Employment Disputes In The Securities Industry: A Study Of Finra Awards, 1986-2008, David B. Lipsky, Ronald L. Seeber, J. Ryan Lamare
David B Lipsky
[Excerpt] This article reports on the results of our recent study of 3,200 arbitration awards issued in employment cases administered under the auspices of FINRA, its predecessor the National Association of Securities Dealers (NASD), and the New York Stock Exchange (NYSE). It responds to Colvin’s call for more empirical research while providing some data on the debate over the fairness of mandatory employment arbitration agreements in the securities industry. After disclosing the limitations of our study and presenting our findings with regard to the FINRA cases, we consider how these findings bear on the debate about mandatory arbitration, specifically whether …