At the end of 2018’s first quarter, we would not have thought the surprising caseload surge sustainable, but, having reached the end of the second quarter, it seems warranted to annualize the statistics posted by FINRA-DR on its operations and case work. Whereas the average monthly case inflow in 2017 was less than 300, the […]

In SAA 2018-24, we identified the four broker-dealers (BDs) with the largest presence in securities arbitration, with special emphasis on their Customer-Member Awards. This week, we finish our survey, turning our attention to their use of counsel. That is to say, we determine how often a given BD relies on its own corporate counsel, or […]

In this two-part survey, the latest in our series on 2017 Awards, we focus on the broker-dealers (BDs) with the largest number of Awards issued that year; in this first part, we pay special attention to Customer-Member (CM) Awards of the top four BDs and, since this is the third year in the row that […]

At the end of the first quarter of 2018, FINRA Dispute Resolution was reporting a 37% climb in new filings of customer cases (689 v. 502) and a 58% increase in intra-industry cases (463 v. 293), compared to the same period of 2017. We commented in our review of the March statistical report from FINRA-DR, […]

The New York City Bar Association, or just City Bar, hosted, as it does annually, the “Hot Topics in Securities Arbitration” program at its headquarters on May 15, 2018, from 9 AM to 12:30 PM, with a networking lunch thereafter. We liked everything about this year’s program! As in past years, the program’s moderator was […]

How much of the forum costs each party must pay is a matter for the discretion of the Arbitrators. Our second annual analysis of cost assessments in Customer-Member Awards (see SAA 2016-21 (May 31) for the original survey) once again reveals a decided tendency to favor customer claimants. A few words of explanation are in […]

FINRA and the SEC have both responded to letters sent in March by Senator Elizabeth Warren and two others seeking data and other information on sexual harassment in the financial sector. Some questions pertained to arbitration. We reported in SAA 2018-10 (Mar. 7) that Senators Dianne Feinstein (D-CA), Catherine Cortez Masto (D-NV), and Elizabeth Warren […]

In the first part of our survey on punitive damages (see SAA 2018-13 (Apr. 4)), we took a “forest-level” look at this type of relief, focusing on request frequency and success rate and looking at how the statistics compared to prior years; in this final installment, we look at some of the notable “trees.” As […]

In this somewhat delayed follow-up to our earlier survey of the “Top Awards of 2017” (SAA 2018-06 (Feb. 7)), we turn to punitive damages, the “brass rings” of the arbitration carousel. We present our findings in two parts. This week, we look at them holistically, we ask the following series of questions: how often are […]

FINRA’s solicitation of comments on a proposal to make expungements more difficult, which we covered in SAAs 2018-07 (Feb. 14), -08 (Feb. 21) & -09 (Feb. 28), has inspired us to check on how often expungement requests are granted under current rules. The most recent rules change on the subject was the adoption of Rule […]