ROADMAP TO SECURITIES ADR

As the public increasingly invests in the securities markets, litigation between the securities industry and its customers has mushroomed and become more complex. Arbitration and mediation traditionally provide the advantage of a speedy resolution of securities disputes by persons knowledgeable in the area, without excessive costs. To better understand the present rules governing such arbitrations and mediations, the development of the present system and explore the judicial developments that have directed most of such disputes into self-regulated organization (SRO) forums must be evaluated. Every effort should be made to explore the use of mediation, where the results to date have been quite favorable. In resolving such future disputes with the securities industry, the public will not accept a mandatory arbitration system where its rights and remedies are stripped unilaterally, or limited by a non-negotiated predispute arbitration agreement. Whatever relief is available in court should generally also be available in arbitration.