A proposed NASD rule would grant parties in securities arbitrations the right to demand written explanations of arbitration panel decisions. While the change could potentially provide a further understanding of seemingly arbitrary awards and increase investor confidence, attorney Jay Salamon voices his concern, in the above article, that brokerages will use the documents to file costly appeals.
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.