By William B. L. Little, February 8, 2012
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This article argues that the National Association of Securities Dealers (NASD) arbitration process has not adequately fulfilled the Congressional intent to provide investor protection. The article discusses the effects of Supreme Court decisions and recent legislation on the enforcement of mandatory pre-dispute securities arbitration agreements. The article traces the evolution of securities arbitration, focusing on the NASD Code of Arbitration and the creation of Financial Industry Regulatory Agency (FINRA). The article concludes with recommendations for revisions to securities arbitration.
