Bank Likely To Succeed On Merits As To Whether It, Or Its Corporate Trust Department, Was A "Municipal Securities Dealer" Subject To FINRA Arbitration. If your eyes begin to glaze over when reading about the Financial Industry Regulatory Authority (FINRA), Municipal Securities Rulemaking Board (MSRB) rules, conduit municipal bonds, indenture trustees, Institutional Investment Departments (IIDs), […]
The Current Rules Of Professional Conduct Became Effective On November 1, 2018. The following new rules pertain to arbitrators, mediators, or other third party neutrals: Rule 1.12 Former Judge, Arbitrator, Mediator, or Other Third-Party Neutral; Rule 2.4 Lawyer as Third-Party Neutral; Rule 2.4.1 Lawyer as Temporary Judge, Referee, […]
The Congressional Vote Furthers De-Regulation Of Wall Street. In a NYT article entitled, "Consumer Bureau Loses Fight to Allow More Class-Action Suits," Jessica Silver-Greenberg reports about the October 24, 2017 vote in the Senate to roll back a rule written by the consumer bureau and previously intended to go into effect in 2019. […]
Enforceable Delegation Provision Means The Buck Does Not Stop With Court, But Gets Passed To Arbitrator. Aanderud v. Superior Court (Vivint Solar Developer, LLC, Real Party In Interest), F073277 (5th Dist. 7/26/17) (Gomes, Hill, Meehan), is worth reading for its analysis of how a delegation provision is applied to a consumer arbitration, where the […]
Incorporation By Reference Of AAA Rules Is The Key Here. Plaintiffs, who worked as armed security guards, brought an employment class action against their employers Universal Protection Service, LP and Universal Services of America, Inc. (UPS). After the trial court denied UPS’ motion to compel individual arbitration, while staying the suit pending arbitration, UPS […]
AAA Clause Does Not Contain Required Prevailing Party Language Necessary For Fee Recover Under Civ. Code section 1717 In Fujian Peak Group, Inc. v. Huang, No. D063296 (4th Dist. Div. 1 May 15, 2014) (Huffman, McConnell, O’Rourke) (unpublished), defendant Huang was deleted from an arbitration award because he had neither been served nor had […]
Plaintiff Finds Way Around JAMS Deadline The next case illustrates the fundamental point that an arbitration award is not the same as a judgment, and that even after the time has expired under the governing arbitration rules to amend the award, it may still be possible to amend the judgment confirming the award. Butler […]
Ethics Standards 2, 3, 7, 8, 12, 16 and 17 are amended, effective July 1, 2014 Matthew Bender’s Rules of Court Special Update (December 2013) explains that Ethics Standards for Neutral Arbitrators in Contractual Arbitration, Standards 2, 3, 7, 8, 12, 16, and 17 are: “amended to: (1) codify the holdings in decisions on […]
Grounds For Appeal Go Beyond Those Allowed By Existing State And Federal Statutes Perhaps the greatest risk with arbitration is that errors of fact and law are not grounds for appeal. The American Arbitration Association has now addressed that risk by adopting Optional Appellate Arbitration Rules effective November 1, 2013. These optional rules […]
Second District Division 2 Concludes That Arbitrator Did Not Disregard Choice Of Law Provision Roller Bearing Company of America (RBC) manufacturers roller bearing assembly parts and Honeywell International use them in engines it manufacturers. Roller Bearing Company of America, Inc. v. Honeywell International, Inc., Case No. BS127074 (2nd Dist. Div. 2 August 23, […]