Attorney Fee Award For In-House Counsel Upheld SOFTSOLUTIONS, INC. V. BRIGHAM YOUNG UNIVERSITY, No. 981481 (Utah Sup. Ct., 5/19/00) Arbitral awards of attorney fees relating to time spent by in-house counsel are appropriate, but should be based on a cost-plus rate, rather than a market-rate formula. The primary issues on […]
News
NASD Gets OK to Form Dispute Resolution, Inc.
New Corporation, New Structure NASD Regulation’s Office of Dispute Resolution, which received permission from the SEC to be spun off into a separate subsidiary last fall, has completed the transition. The NASD announced July 17 that a new subsidiary company under the umbrella of the NASD has been established to […]
NASD rule adopted on replacement arbitrators –
SEC Approves NASD Rule Change Regarding Replacement Arbitrators The Securities and Exchange Commission announced immediate effectiveness to a rule change proposed by NASD Dispute Resolution. The proposed change to Rule 10313 appeared on the NASD-DR WebSite a couple of weeks ago, directly after its filing with the Commission on March […]
Punitive Damages, Excessive – Securities Law News Update, From the Securities Law Home Page
]]> Home | Message Board Home Search Arbitration Investors Brokers Finance Law Compliance Archives Supreme Court Strikes Excessive Punitive Damages Punitive damages awards that exceed single-digit ratios, deal with economic transactions, and occur in tandem with compensatory awards with punitive elements are particularly susceptible to a due process […]
Perino Arbitrator Disclosure Report Reviewed
Perino Arbitrator Disclosure Report Reviewed Arbitrator Selection and Disclosure Analyzed; California Standards Rejected PERINO REPORT REVIEWED: While the Report that Prof. Perino prepared for the SEC on arbitrator disclosures has been much summarized in the press and in releases by the SEC and the SROs (see SAA 02-45), it deserves […]
Florida Bar Addresses Rapoport out of state attorney issues
Florida Bar Addresses Rapoport Limits Rule Amendments Proposed to Insure Out-of-State Attorneys Continued Representation in Arbitration FLORIDA BAR ADDRESSING RAPOPORT LIMITS: The Florida Supreme Court’s decision (e.g., SAA 03-13) enjoining an out-of-state attorney from representing parties in securities arbitration has caused considerable disruption, but a resolution of the dilemma may […]
Broad Arbitration Agreement Covers All Accounts by Owner
White v. Salomon Smith Barney, Inc., 2001 Cal. App. LEXIS 2844 (Cal. App., 1Dist., 11/30/01) A broad arbitration provision covering one account of a client may be construed to cover disputes arising in other accounts. The Whites opened ten brokerage accounts with SSB and subsequently brought suit against SSB with […]
Arbitrators Cannot Sanction Attorneys
After nearly 4 years, a Court vacates a $700,000 arbitrator sanction against trial counsel CIBC Oppenheimer Corp. v. Friedman, No. B141521 (Cal. App., 2Dist., 2/21/02). Agreement to Arbitrate * Vacatur of Award * State Law, Applicability of * Exceeding Powers * Sanctions (Arbitral) * Breadth of Agreement * State Statutes […]
Arbitrators Must Detail Attorney Fee Awards
In Response to Florida Supreme Court Ruling, Attorney Fee Awards Provide Necessary Detail HARE & POLO TRUSTS v. GRUNTAL & CO., LLC, NYSE ID # 2000-008643 (Ft. Lauderdale, 5/17/01): In apparent response to the Moser decision on attorney fees in arbitration, arbitrators have begun stating how they have disposed of […]
NASD Rule 10101 Forces Arbitration Between Two Brokers – From the Securities Law Home Page
]]> Home | Message Board Home Search Arbitration Investors Brokers Finance Law Compliance Archives Dispute Between Two Brokers is Subject to Arbitration, Even Without Written Agreement Court Compels Arbitration Based on NASD Rule 10101 Scott (Relator Zachary C.), In Re, 2003 WL 557009 (Tex. App., 2/27/03). Arbitrability * […]
