FINRA Dispute Resolution Services (“DRS”) posted case statistics through June, with the overall case filing trends essentially unchanged from prior months. In brief, the headlines are: 1) overall arbitration filings through June – 1,533 cases – are down 18%, about the same as in May; 2) customer claims are now unchanged from 2020; 3) industry disputes are almost halved, down 40%; and 4)…
The Stanford Ponzi scheme was discovered in early 2009. Arbitration cases arising out of it are still with us, however. We covered in the “Articles of Interest” section in SAA 2021-26 (Jul. 15) a July 12 Financial Advisor IQ story, “FINRA Arb Panel Orders Pershing to Pay $650K Over Ponzi Scheme,” reporting that: “A Financial Industry Regulatory Authority…
The issue of shareholder arbitration is in the news again, this time in the form of a long-awaited court decision on Johnson & Johnson’s rejection of a shareholder proposal. Recall that we reported in SAA 2019-07 (Feb. 13) that then-SEC Chairman Jay Clayton in February 2019 issued a formal Public Statement backing a staff decision to issue a “no-action letter” on…
As more and more financial services firms announce their plans for returning staff to the workplace (see our coverage in SAA 2021-24 (Jun. 24)), we thought we would check in with the major ADR institutions to inquire about their “back-to-the-office” intentions. Hard to believe, but it’s been over two months since leaders from the American Arbitration…
By George H. Friedman* Chairman of the Board, Arbitration Resolution Services Years ago I penned a blog post on Independence Day and arbitration, and updated it a few years ago. It still rings true. So, without further ado, here’s my July 4th blog post, again updated. Our Founders and Arbitration As we approach Independence Day,…