Finance & Banking Alternative Dispute Resolution (ADR) General Business

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Second Circuit Denies JP Morgan’s Attempt To Force Arbitration

The Second Circuit affirmed a New York district court ruling that found that the FINRA arbitration rules, one of which prohibits arbitration of putative or collective class actions, was incorporated within the subject...more

CFPB Arbitration Study May Be First Step in Unlocking Floodgates of Consumer Class-Actions

Banks already looking over one shoulder to maintain compliance with regulatory reforms coming at them from the Dodd-Frank Wall Street Reform and Consumer Protection Act may soon need to start looking over the other. Class...more

The International Arbitration Review

International arbitration is a fast-moving express train, with new awards and court decisions of significance somewhere in the world rushing past every week. Legislatures, too, constantly tinker with or entirely revamp...more

MEasure - Summer 2015

Welcome to the Summer 2015 issue of measure, King & Spalding’s Middle East quarterly newsletter. This issue covers a number of areas with interesting developments and valuable guidance. Phillip Sacks and Jodi Norman discuss...more

Plaintiff’s Counsel Concedes Applicability of Arbitration Provision to TCPA Suit

The Eastern District of North Carolina recently granted a motion compelling arbitration in a TCPA case involving debt-collection calls allegedly made to plaintiff’s cellular telephone. See Rice v. Credit One Fin., No....more

Clickwrap Agreement Available Only Through Hyperlink Enforceable Under New York Law

Last week, the Southern District of New York followed a long line of precedent under New York law and upheld the enforceability of a website clickwrap agreement, granting a website operator’s motion to compel arbitration...more

UPDATE – Indonesia’s New Draft Oil & Gas Law

Indonesia has recently made public a full copy of its draft oil and gas law for review and parliamentary discussion. By way of update to our client alert of 21 April 2015, we can now review the further revised and full...more

Enforcing arbitral awards in Sub-Saharan Africa--Part 1

Arbitration analysis: In Part 1 of this series, Steven Finizio, Danielle Morris and Katherine Drage of Wilmer Cutler Pickering Hale and Dorr LLP explore the importance of enforcement of arbitral awards to those investing in...more

New empirical study of AAA arbitrations is a study in contradictions

A new empirical study of approximately 5,000 American Arbitration Association (AAA) consumer arbitrations conducted between 2009 and 2013 purports to find a “repeat player” effect favoring companies that previous researchers,...more

Arbitrability of Intra-Company Disputes – an Offshore Perspective

Arbitrability is a question of considerable importance – it is the question of whether a particular issue in dispute is capable of being resolved by arbitration as opposed to litigation – and is therefore a question of...more

FINRA Proposes Amendments to Arbitration Codes in an Attempt to Increase Efficiency and Effectiveness of Arbitration Process

The Financial Industry Regulatory Authority (“FINRA”) recently filed a proposed rule change with the Securities and Exchange Commission (“SEC”) to amend Rules 12214 and 12601 of the Code of Arbitration for Customer Disputes...more

For Life Insurers and Agents – A Summary of Predicted Litigation Under the DOL’s Proposed Fiduciary Rule

The Department of Labor’s recent Proposed Rule (the “Proposal”), which defines the term “fiduciary” as it applies to persons who provide “investment advice” to ERISA plans and IRAs, will impact the likelihood and severity of...more

Lawmakers urge CFPB to reopen arbitration study

A group of more than 80 House and Senate Republicans have sent a letter to Director Cordray asking the CFPB to reopen its arbitration study. The CFPB released the final results of its empirical study of consumer arbitration...more

Still Threatened: Arbitration Clauses in Securities Customer Agreements

In a report to Congress released in March, the Consumer Financial Protection Bureau (CFPB) takes aim at consumer agreements that require disputes to be resolved by arbitration. The CFPB generally does not have...more

CFPB Report Likely Precursor to Regulatory Limits on Mandatory Arbitration Provisions

The Consumer Financial Protection Bureau (CFPB) released a study in March 2015 criticizing the use of mandatory, pre-dispute arbitration agreements in financial contracts with consumers. As expected, the CFPB found...more

Spring Vacations: Which arguments are winning on appeals from arbitration so far in 2015?

Today I present a collection of recent state and federal appellate court decisions that vacate or un-vacate arbitration awards. The seven opinions below emphasize how difficult it is to prove that an arbitrator exceeded his...more

Should Court Approval Be Required to Engage in Mediation?

Alternate Dispute Resolution is an accepted alternative to litigation, consists primarily of arbitration and mediation. Arbitration involves the disputing parties presenting their arguments to a mutually agreed upon neutral...more

Target and Card Issuers Dispute Use of MasterCard Settlement to Resolve Data Breach Claims

In the wake of Target’s April 15 announcement of a private $19 million settlement of the data breach claims of MasterCard-issuing banks, counsel representing the putative card issuer class in the consolidated Target data...more

Indonesia’s New Draft Oil & Gas Law

Legislators in Indonesia have recently suggested that all petroleum production operations should effectively be state controlled, making many foreign investors in south east Asia’s largest country fear that their assets could...more

Can the CFPB Really Prohibit Pre-Dispute Arbitration Agreements?

Section 1028 of the Dodd-Frank Act, entitled “Authority to Restrict Mandatory Pre-Dispute Arbitration,” gives the CFPB the authority to promulgate regulations imposing conditions, limitations, or outright prohibitions on...more

Amendments to Code of Conduct for Credit and Debit Card Industry

Amendments made to the Code of Conduct for the Credit and Debit Card Industry in Canada (Code) released by the Department of Finance on April 13, 2015, will have interesting repercussions across the entire payment industry...more

The Other Shoe Has Dropped: CFPB Releases Report on Arbitration

The Consumer Financial Protection Bureau (CFPB) recently released its long awaited Report to Congress on arbitration agreements in consumer financial contracts. The Report’s conclusion, and Director Richard Cordray’s remarks,...more

CFPB Releases Arbitration Study; Is Regulation Far Behind

Why it matters - The Consumer Financial Protection Bureau (CFPB) released its long-awaited study of arbitration clauses in consumer finance agreements, reporting that based on its research, such provisions have the...more

Court Denies Summary Judgment Motions Despite An Express Agreement To Arbitrate

A New York federal district judge denied Plaintiffs McKenna Long & Aldridge, LLP (“McKenna”) and Vincent W. Sedmak (“Sedmak”) motions for summary judgment which sought to stop an arbitration action from Ironshore Specialty...more

Banking & Financial Services E -Note - March 2015

In This issue: - 6 Things You Need to Know Before Filing Chapter 11 Bankruptcy - Don’t Get Left in the Dark: Pre-eviction Noticing Requirements Following Sunset on the Protecting Tenants at Foreclosure...more

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