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The High Cost Of Efficiency: Mandatory Arbitration In The Securities Industry, Beth E. Sullivan
The High Cost Of Efficiency: Mandatory Arbitration In The Securities Industry, Beth E. Sullivan
Fordham Urban Law Journal
Mandatory arbitration agreements have become standard in the securities industry via the required Form U-4 for anyone seeking a license to buy or sell a security. However, the arbitration agreements generally submits a claimant to a panel of "white males in their sixties," and often claimants do not fare well before such panels. The article explores the claims of proponents of such agreements, such as the efficiency of resolving the dispute, which allegedly benefits both employers and employees, notions of freedom of contract, and ability to foster employment relationships which otherwise would be difficult to enact. However, the article examines …
A Model For Arbitration: Autonomy, Cooperation And Curtailment Of State Power, Kenneth
A Model For Arbitration: Autonomy, Cooperation And Curtailment Of State Power, Kenneth
Fordham Urban Law Journal
As compared with the formal pleadings, massive discovery, aggressive motion practice, and endless appeals of litigation, arbitration is undoubtedly more efficient as a dispute resolution mechanism. However, efficiency is only one of many advantages of arbitration. Arbitration empowers disputing parties, promotes individual autonomy and cooperation, and curtails the power of government in the process. Still, the state should not wholly limit its involvement in arbitral processes; the courts do and should have a substantial role in determining the enforceability of arbitration agreements and awards in a few select contexts. Overall, courts should enforce arbitration agreements and only limit enforceability that …