Arbitration Filings Are Down
Traders Magazine, July 2001
The Securities Industry Conference on Arbitration (SICA) plans to "encourage the use of mediation," according to a recently released report. The report also contains several changes in the arbitration code. Among them are an attempt to re-write the code in simple, clear language, allowing parties to an arbitration to request additional arbitrators if those on their A list are unavailable, and procedures for removing an arbitrator after the commencement of a first hearing. The SICA, in a report of the number of cases filed under the industry's system of arbitration, noted that the total number of cases received in 2000 by the New York Stock Exchange declined to 553 (from 602 the previous year).
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