Unenforceable Arbitration Clauses in Brokerage Agreements

I completed research confirming that certain provisions in arbitration
clauses of brokerage agreements are unenforceable under NASD rules (which
have the force of federal law) and U.S. Supreme Court precedent. These
provisions have to do with limitation of damages, choice of situs of
arbitration and other relevant issues. Our complete understanding of the
issues is extremely helpful in negotiating brokerage agreements. It also
raises the issue of whether or not we want to amend our legal policy.

Please advise whether you want to meet to discuss or would like a brief memo.

Cheryl Nelson
Senior Counsel
EB3880D
(713) 345-4693