This article examines the NASD's proposal to change its Code of Arbitration Procedure to require NASD arbitrators to write explained awards upon the customer's request. The article evaluates the pros and cons of the proposal, and the policy reasons why such a rule change might be desirable. The...

In light of the twentieth anniversary of the Supreme Court's decision in Shearson v. McMahon enforcing a pre-dispute arbitration clause in a brokerage customer's account agreement, the author revisits the assumptions of the McMahon Court supporting its conclusion that arbitration is fair to...