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Alternative Dispute Resolution Agreements in the Securities Exchange: Analysing the Approach of Three Systems

Jaberi, Mohammad Saleh and Zeller, Bruno (2012) Alternative Dispute Resolution Agreements in the Securities Exchange: Analysing the Approach of Three Systems. Macquarie Journal of Business Law, 9. pp. 236-250. ISSN 1449-0269

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Abstract

One of the most important aspects of Alternative Dispute Resolution (ADR) methods isthat the process is consensual in nature. All arbitration acts and most other ADR rules require parties to agree on referring their disputes to an alternative method instead of national courts. However, there is no worldwide consensus regarding the application of any ADR methods in securities exchange disputes between brokers and their clients. The U.S Supreme Court decisions in Shearson/American Express Inc. v. McMahon and Rodriquez de Quijas v. Shearson/American Express, Inc. at the other end of the spectrum indicated that the prohibition of arbitration in the securities exchange disputes is not always possible. What can be said is that the Supreme Court of the United States held in these cases that the arbitration clause in the broker-client contracts is not inconsistent with the aim of the Securities Acts of the U.S.

Item Type: Article
Uncontrolled Keywords: ResPubID25987, disputes, securities, closed system, semi-open system, open system, stock markets
Subjects: FOR Classification > 1801 Law
Faculty/School/Research Centre/Department > College of Law and Justice
Depositing User: Ms Phung.T Tran
Date Deposited: 19 Mar 2014 05:56
Last Modified: 14 May 2014 19:39
URI: http://vuir.vu.edu.au/id/eprint/22762
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