SECURITIES ARBITRATION COMMENTATOR, INC.
AWARD SURVEYS

Survey Title: Sanctions 1996 - 1999
SAC Issue: Volume XI, No. 1, pp. 4-7
Publication Date: January 2000

Award Year(s) Reviewed: 1996-1999
Survey Topic: Sanctions assessed in arbitration awards: sanction-able offenses, arbitral response and judicial confirmation.
Number of Charts: 1

Abstract
Taking a closer look at a perceived trend in the latter half of the 1990's toward increased use of arbitral sanctions, the author analyzes a group of approximately 160 Awards issued 1996 - 1999 in which arbitrators imposed some form of sanction.

A chart outlines a sample of these "sanctions" Awards by type of offense, rule violation and arbitral response in order to illustrate the broad diversity of sanctions employed by panels in exercising control over a correspondingly wide range of inappropriate behavior.

Five court decisions limn the judicial response crucial to arbitrators' confident exercise of their sanction authority; four come down unequivocally in support of panel decisions, while the fifth, which draws on a strict interpretation of "sanction" to deny its arbitral use, nevertheless cites California statutes which reserve sanction power to arbitrators for compelling discovery.

Both arbitrators' increasing initiative in taking control of proceedings and courts backing up their authority to do so are viewed as encouragement to parties seeking redress against attempts to thwart fair, orderly, effective dispute resolution protocols.

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