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Perceptions Of Fairness In Securities Arbitration: An Empirical Study, Jill I. Gross
Perceptions Of Fairness In Securities Arbitration: An Empirical Study, Jill I. Gross
Elisabeth Haub School of Law Faculty Publications
This Report to the Securities Industry Conference on Arbitration (SICA) documents the results of the authors’ empirical study, through a one-time mailed survey, of survey participants’ perceptions of fairness of securities Self-Regulatory Organization (SRO) arbitrations involving customers. The survey was designed to assess participants’ perceptions of the: (1) fairness of the SRO arbitration process; (2) competence of arbitrators to resolve investors’ disputes with their broker-dealers; (3) fairness of SRO arbitration as compared to their perceptions of fairness in securities litigation in similar disputes; and (4) fairness of the outcome of arbitrations.
Mcmahon Turns Twenty: The Regulation Of Fairness In Securities Arbitration, Jill I. Gross
Mcmahon Turns Twenty: The Regulation Of Fairness In Securities Arbitration, Jill I. Gross
Elisabeth Haub School of Law Faculty Publications
I believe that current regulation of securities arbitration does ensure that it is fair to investors. Part II of this Commentary explores the various sources of law, including the FAA, which could require fairness in securities arbitration. It revisits the first critical assumption of the McMahon Court, that the FAA's provisions for post-award judicial review protect investors from an unfair arbitration process. This Part demonstrates that, while the FAA does require “fundamental fairness” in arbitration, courts loosely construe that requirement and find most arbitration proceedings meet it easily. Part IIII of this Commentary explores SEC oversight of securities arbitration, particularly …
Securities Mediation: Dispute Resolution For The Individual Investor, Jill I. Gross
Securities Mediation: Dispute Resolution For The Individual Investor, Jill I. Gross
Elisabeth Haub School of Law Faculty Publications
Part I of this article will provide a brief history of ADR in the securities industry (primarily arbitration), and then will describe the emergence of mediation as an alternative to arbitration. Part II will explore the state and federal statutory regulations that arguably govern the securities mediation process, and their impact on procedural and substantive justice. In particular, this section will review the applicability to and impact on securities mediation of the Securities Exchange Act of 1934 (1934 Act), the Federal Arbitration Act (FAA), and state mediation statutes, including the Uniform Mediation Act. In this section, I will argue that …
Making It Up As They Go Along: The Role Of Law In Securities Arbitration, Barbara Black, Jill I. Gross
Making It Up As They Go Along: The Role Of Law In Securities Arbitration, Barbara Black, Jill I. Gross
Elisabeth Haub School of Law Faculty Publications
What is the current role of the law in securities arbitration? Given the difficulties investors would encounter in pleading and proving their claims in court, they may well be better off in a system where less attention is paid to the law and more to the equities of the actual dispute before the arbitration panel. While this is not a system where accountability and predictability of results can be achieved, investors may, in fact, fare better than they might expect. It follows then that if equitable considerations enhance rather than subtract from investors' chances of recovery, then investors need not …