Three changes are deemed necessary to fix the broken securities arbitration system: improve the quality of the arbitrators, impose sanctions for procedural abuses, and reduce time and cost of the process. Unfortunately, these changes are unlikely to occur given the expected merger of the NSE and the NASD. Hugh Berson offers his thoughts in the linked 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.