Misrepresentation in Securities Arbitration

  MISREPRESENTATION IS ONE OF THE MOST used and abused claims in securities arbitration. A form of a fraud claim, misrepresentation involves knowingly making false statements that a listener will rely and act upon. Obviously, this violates a broker’s professional obligation to deal fairly with customers and breaches a customer’s […]

LAW REVIEW: Brokers Have to be Their Own Judge

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Securities Arbitration Information Center

Featured Articles Introduction to Securities Arbitration – The ultimate primer on securities arbitration, authored by Mark J. Astarita, Esq., a New York securities attorney who has represented parties to securities arbitrations in virtually every major city for 20 years. An excellent introduction to the process. Featured Books Securities Regulation in a Nutshell – This […]

SEC Approves Injunctive Relief Rule

New Mechanism for Resolution of Raiding Disputes Approved Rule 10335 makes permanent, with some significant modifications, a formal mechanism for the resolution of raiding disputes, under a NASD Rule approved by the Securities and Exchange Commission. Former Rule 10335, designed as a one-year pilot in 1996 and taken out of […]

Stay of Non Arbitrable Claims is Discretionary

Stay of Non-Arbitrable Claims is Discretionary Where Arbitrable Claims Exist Baggesen vs. American Skandia Life Assurance Corp. Baggesen v. American Skandia Life Assurance Corp. & Securities America, Inc., 2002 U.S. Dist. LEXIS 23411 (D. Mass, 12/5/02). FAA (§ 3) * Agreement to Arbitrate * Stay of Litigation * Scope of […]

Customer Not Beneficiary of Clearing Agreement

Customer Not Beneficiary of Clearing Agreement Hossain vs. Rauscher Pierce Refsnes Hossain v. Rauscher Pierce Refsnes, Inc., Case No. 97-1380 (D. Kan., 5/15/00): A customer of an introducing broker is not a third party beneficiary of a clearing agreement between an introducing and clearing broker. Hossain claimed to be a […]