Originally from:

Journal of American Arbitration (JAA) - Vol. 2, No. 1

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ARTICLES

Party Autonomy and Freedom of Contract in
Securities Arbitration: The Dangers of
Expanding Judicial Review of Arbitral Awards
By Melissa Brockett

I. INTRODUCTION
As a significant part of securities law, arbitration now has
considerable resources being applied to its regulation and development.
However, throughout this development, issues are bound to arise. A
current debate is raging about punitive damages in securities arbitration
awards, specifically, the judicial review of these awards, or as some
contend, the lack thereof.
This Comment will briefly examine the arbitration process in
general, including its benefits and disadvantages. Parts III and IV will
discuss the development of securities arbitration. Additionally, the
current procedures of several securities self-regulatory organizations
(SROs) will be considered. Part V raises the topic of punitive damages in
the securities arbitration arena. Finally, Part VI discusses in detail the
judicial review of such awards, briefly suggesting alternatives to
contractual expansion of the role of federal courts.