| {
| Broker-Dealers have a duty to disclose markups on municipal bonds when those markups are excessive, |
| Arbitrator Awards can be reversed for manifest disregard of the law - or of the evidence. |
| Punitive damages award is upheld. "If the parties to an arbitration contract agree to refer punitive damages claims to the |
| arbitrator, the FAA ensures that their agreement will be enforced according to its terms even if a rule of state law would |
| otherwise exclude such claims from arbitration." |
| Arbitration not stayed for brokerage facing criminal inquiry |
| Arbitration subpoena served on non-party held to violate his Fifth Amendment privilege against self-incrimination and is |
| quashed. By Sullivan, J.P.; Nardelli, Williams and Tom, JJ. |
| Manifest disregard of the law can be a basis for overturning an arbitration award |
| The vast majority of securities arbitration cases are decided under New York law. Here is a collection of the most recent |
| decisions from the New York Courts. |
| Qualified Privilege for U-5 Statements |
| Arbitrators decide eligibility |
| Rule 10b-5 does not include liability for aiding and abetting. |
| Supreme Court decision upholding the use of the misappropriation theory in insider trading cases. |
| Section 12(2) of the '33 Act does not extend to a private sale contract. Dissent, by Justice Thomas, with Scalia, Ginsburg, |
| and Breyer joining; and by Justice Ginsburg, with Breyer joining. |
| Congress' attempt to end-run Lampf is stricken as unconstitutional by the Supreme Court. Justice Thomas dissented. |
| If contracting parties agree to include punitive damages claims within the issues to be arbitrated, the FAA ensures that |
| their agreement will be enforced according to its terms even if a rule of state law would otherwise exclude such claims |
|
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