Finally, an easy way to obtain past awards.
A recurring complaint in the NASD sponsored arbitration process is the difficulty in obtaining copies of past awards by prospective arbitrators. The NASD will provide copies of such awards in hard copy to litigants, but only provides the last 5 awards for free. The timing of the delivery of the awards is also an issue, as the time to submit the arbitrator selection forms is relatively short.
The NASD announced in May that it had entered into a cooperative arrangement with the Securities Arbitration Commentator. Parties to arbitrations at the NASD Dispute Resolution forum can directly obtain online the past awards of proposed arbitrators free of charge, seven days a week via the Internet. Parties will be able to immediately connect to SACs arbitration awards library, and to search the awards by arbitrator name, award date, or by using keywords.
The awards in pdf format are exact replicas of the arbitrators awards, without modifications of any kind. Parties who need more sophisticated tools such as a summary and analysis of specific awards may purchase additional, enhanced services from SAC.
More information is available at the NASD Dispute Resolution Web Site, http://www.nasdadr.com or at SAC’s site, http://www.sacarbitration.com
Nothing herein is intended as legal or financial advice. The law is different in different jurisdictions, and the facts of a particular matter can change the application of the law. Please consult an attorney or your financial advisor before acting upon the information contained in this article.
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