Investors are mostly on their own to fight brokers through the industry-run arbitration system.
The arbitration system has produced its share of folly and humor, especially in the early years.
The FINRA arbitration system is convoluted, overburdened, expensive, and designed to protect Claimants.
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However, it confirmed it does not have an independent arbitration system for complaints and customers cannot take disputes to an ombudsman.
So far progress has been slow, partly because the new arbitration system and bankruptcy court are intended to settle talks that have failed.
Ask any lawyer who has represented investors in industry arbitrations or an investor if the arbitration system is preferable to a court of law.
Arbitration can be a fine system if both parties are on an equal footing.
Laurenzi's statement comes after Braun publicly blasted Major League Baseball's drug testing system and an arbitration board tossed out a 50-game suspension imposed as the result of the drug test Braun took last year.
That was, in part, because of the "huge financial penalties for newspapers which choose to be outside the system and an arbitration service which would open the floodgates to compensation claimants", president Adrian Jeakings said.
"Even if the Court has jurisdiction over Armstrong's remaining claims, the Court finds they are best resolved through the well-established system of international arbitration, by those with expertise in the field, rather than by the unilateral edict of a single nation's courts, " stated Sparks, a judge in the U.S. district court based out of Austin, Texas.
Pao has been seeking to keep the case in the San Francisco Superior Court system, while Kleiner has been pushing for the arbitration route.
The Muslims who use them may not be aware that the American courts system will protect their rights and due process better than Shariah law or other systems used in private arbitration.
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It is true that the system is no longer, if it ever was, a mere bundle of agreements with a procedure for arbitration should disputes arise.
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