SECURITIES ARBITRATION COMMENTATOR, INC.
Survey Title: Sanctions 2003
SAC Issue: Volume 2004, No. 1, pp. 3-4
Publication Date: January 2004
Award Year(s) Reviewed: 2003
Survey Topic: : Imposition of sanctions in arbitration awards: form and degree
Number of Charts: One
In a departure from SAC's standard data collection method--mining the SCAN Plus field-based database for Award statistics-the SAC editors word-search here the online SCAN Premier Award library to find Awards for scrutiny. Nine Awards issued in 2003 were selected to illustrate the manner in which and the degree to which arbitrator panels imposed sanctions.
Text quotes from the Awards show the range from succinct reports of specific violations to lengthy remarks detailing egregious behavior, with penalties imposed in all cases. Verbal censure is posited as being the most effective long-term sanction with respect to improper attorney or expert conduct, addressing, as it does, professional conduct and competent performance, and serving to alert panels and parties in future arbitrations to the potential for problems with the chance to avoid any recurrence.
Award ID Nos. provided in the survey permit the reader to go online and view and print the Awards (free of charge) at either of two websites: www.nasdadr.com or http://scan.cch.com.
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