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Finance & Banking Business Torts Alternative Dispute Resolution (ADR)

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Location, location, location – situs of the debt owed under letters of credit – Taurus Petroleum Limited v. State Oil Marketing...

by Dentons on

This judgment of the Supreme Court was given in the context of proceedings to enforce an arbitration award. It is interesting in its consideration of...more

Chris Lazarini Comments on Court's Remand for Clarification of Arbitration Award

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini commented on a case in which a court took the unusual step of remanding a case to the arbitration panel to explain the rationale behind its award. The Court made the decision because...more

Chris Lazarini Analyzes Court's Decision to Stay Proceedings Involving Non-Arbitrable Claims Pending the Outcome of an Arbitration

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini analyzed a case involving claims against one defendant that are arbitrable and claims against a second defendant that are not. Exercising its discretion, the court stayed the...more

Chris Lazarini Discusses Definition of "Customer" under FINRA Rule 12200

by Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini discussed the court's interpretation of "customer" under FINRA Rule 12200 in a case where a clearing firm sought to avoid arbitration. The court defines a "customer" as one who,...more

California Supreme Court Punts on FAA Preemption - Court invalidates waiver of public injunctive relief, declines to address...

Last month, the California Supreme Court handed down its unanimous decision in McGill v. Citibank N.A., holding that an arbitration provision that effectively waives a consumer’s statutory right to seek public injunctive...more

McGill v. Citibank and Arbitration Agreements

On Thursday, April 7, 2017, in McGill v. Citibank, the California Supreme Court held that a pre-dispute arbitration agreement that waives the right to seek public injunctive relief is contrary to public policy and thus...more

Chris Lazarini Analyzes Right to Jury Under Section 4 of Federal Arbitration Act

by Bass, Berry & Sims PLC on

Bass, Berry & Sims Chris Lazarini analyzed a case outlining when a party is entitled to have a jury decide issues related to the making or enforceability of an arbitration agreement. ...more

Court Orders Parties to Retry Arbitration Seven Years After Award

by Bass, Berry & Sims PLC on

In 2008, Move, Inc., initiated a FINRA arbitration against Citigroup Global Markets, alleging that Citigroup improperly invested over $131 million of Move's assets in illiquid and unsuitable auction rate securities. The...more

CFPB: The Quarterly Review - July 2016

by White & Case LLP on

In This Issue: •The CFPB Speaks •Rulemaking •Debt Collection •Payday Lending •Mortgages •Upcoming in 2016 - In the second quarter of 2016, the CFPB continued its strong pace of activity, initiating two...more

Arbitration Provisions Mauled by Consumer Watchdog

Companies offering payment services or financial products to consumers are facing a proposed rule from the CFPB that would prohibit class action waivers in binding pre-dispute arbitration agreements. Although the information...more

CFPB Updates - March 2015

by Reed Smith on

CFPB Report Claims Arbitration “Less Beneficial To Consumers” than Individual or Class Litigation, Foreshadows Attempt to Impose Restrictions in Future - On March 10, Director Richard Cordray of the Consumer Financial...more

Two N.C. Supreme Court Rulings in the Neighborhood

by Ellis & Winters LLP on

Today, the North Carolina Supreme Court issued opinions and rulings on petitions. Readers of this blog will find at least one of the opinions and one of the petition rulings interesting....more

Sixth Circuit Rejects Claim Preclusion Where Fraudulent Conduct Concealed in a Prior Action

The US Court of Appeals for the Sixth Circuit recently reversed a district court’s decision to dismiss a complaint based on claim preclusion. In its complaint, Venture Global Engineering (VGE) alleged that Satyam Computer...more

Corporate and Financial Weekly Digest - August 2, 2013

In this issue: - CFTC Grants Relief to CTAs and IAs from Swap Block Trade Aggregation Prohibition - Sixth Circuit Affirms Decision to Enforce Arbitration Provision in Retiree Benefit Dispute - Third...more

Third parties and arbitration agreements: Fortress Value v Blue Skye (United Kingdom)

by DLA Piper on

In the recent case of Fortress Value Recovery Fund I LLC and others v Blue Skye Special Opportunities Fund LP and others1 the English Court of Appeal considered the relationship between the Arbitration Act 1996 and the...more

Arbitrators Labeling Your Securities “Crap” Does Not Entitle You To Vacate The Award

In the last post, the Fifth Circuit affirmed an arbitration award against Morgan Keegan. The Ninth Circuit just affirmed an arbitration award against Morgan Keegan in a sister case. In less than two pages, the Ninth Circuit...more

Second Circuit Affirms Arbitration Panel’s Finding That A Securities Clearing Firm May Be Liable As The “Initial Transferee” Of A...

On July 3, 2012, the United States Court of Appeals for the Second Circuit refused to vacate an arbitration award against Goldman Sachs Execution & Clearing, P.C. The Court left intact the arbitration panel’s finding that the...more

Supreme Court Upholds Mandatory Pre-dispute Arbitration Clause in Credit Card Agreements

This article by Victoria Holstein-Childress discusses mandatory pre-dispute arbitration clauses in consumer financial services contracts and the Supreme Court's January 2012 decision in Compucredit v. Greenwood. In...more

A Work in Progress: Evolving Responsibilities in the Retail Broker-Dealer/Customer Relationship

by JAMS on

The enactment of the Dodd-Frank Wall Street Reform and Consumer Protection Act1 (Dodd-Frank Act or Act) has accelerated the process of erasing the distinction between a registered investment adviser and a "mere" broker...more

Morrison v. National Australia Bank

Petition for Certorari for "F-Cubed" Claimants

by Santiago Cueto on

The issue presented in this landmark case is whether the judicially implied private right of action under Section 10(b) of the Securities and Exchange Act of 1934 should, in the absence of any expression of congressional...more

Caveat Consiliator: Let The Adviser Beware -- Imposing Fiduciary Duties on Fee-Based Financial Professionals

by JASON KUESER on

The author argues that fee-based financial professionals (i.e., stockbrokers, financial advisors, financial planners) should be subject to per se fiduciary duties. The article was published in the Spring 2007 edition of the...more

Caveat Consiliator

by JASON KUESER on

This article was published in the Spring 2007 edition of the PIABA Bar Journal. The author argues that fee-based investment advisors should be subject to per se fiduciary duties....more

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