An article in Barron’s last week entitled “The Street’s Due-Process Joke” reports that investors who sue their brokers must accept an arbitration process run by officials appointed in an inscrutable manner. The author describes FINRA as a “a secretive, combative, industry-controlled, self-regulatory organization” and notes that some accuse FINRA of having a biased arbitrator pool selected through a secretive process. Our partner Hugh Berkson, Executive VP and President-Elect of the Public Investors Arbitration Bar Association, is quoted in the article.
Hugh Berkson is a Securities Attorney with McCarthy, Lebit, Crystal & Liffman, Co. LPA. Hugh is rated AV® Preeminent™ by Martindale-Hubbell®.
He obtained a business degree in Finance from the University of Texas at Austin in 1989, and is a 1994 graduate of Case Western Reserve University School of Law, where he was a member of the Order of the Barristers and received both the American Jurisprudence Award, (National Mock Trial) in 1993 and the Jonathan M. Ault Mock Trial Prize for 1993-1994.