Arbitration in the securities field: does the present system of arbitration between small investors and brokerage firms really protect anyone?
Article Abstract:
A statistical analysis of National Assn of Securities Dealers' (NASD) securities arbitration proceedings suggest that small investors are adequately protected, but that the NASD could make some minor changes to increase the credibility of the procedure. While small investors are less likely to be granted awards that large investors, when they do win, small investors receive awards closer to the damages they seek than large investors. The NASD can improve public perception of arbitration fairness by being more vigilant in training and selecting arbitrators and explaining arbitration clauses to customers up front.
Publication Name: The Journal of Corporation Law
Subject: Law
ISSN: 0360-795X
Year: 1996
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Selling investment company shares via an off-the-page prospectus: "leveling the playing field" or "diminishing investor protection."
Article Abstract:
The proposed SEC regulation that would amend section 482 of the Securities Act of 1933 and allow open-end investment companies to sell off-the-page or use a summary prospectus would not compromise investor protection. Critical disclosures would still be provided, and investors will actually be better informed. Special rules are not needed for new companies and risky mutual funds because disclosure can capture such information. Advertising and fraud rules already in the securities laws would adequately address misuse of the summary prospectus and off-the page options.
Publication Name: The Journal of Corporation Law
Subject: Law
ISSN: 0360-795X
Year: 1995
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