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Securities Industry Employment Disputes

By ALM Staff | Law Journal Newsletters |
June 28, 2007

Due to its volatility, the securities industry probably faces more terminations than any other. Regardless of whether the terminations result from a reduction in force, a need to make room for lateral hires, or misconduct, it is likely that securities firms will have to expend time and money to resolve resulting financial conflicts that may also cause unfavorable publicity.

Increasingly, parties in the securities industry facing litigation over significant employment-related financial disputes have turned to the 'baseball arbitration' model, also known as 'final-offer' arbitration. On the surface, 'baseball arbitration' appears to be a good choice to resolve these matters. The reality of 'baseball arbitration' is that this 'win-lose' method often disappoints. Why does a process that has been so successful in sports present pitfalls when invoked for terminations of broker/dealers, financial advisers and managers?

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