[20220405]IF12076_废除强制性证券仲裁的立法 .pdf

https:/crsreports.congress.gov April 5, 2022Legislation to Repeal Mandatory Securities Arbitration Introduction Virtually all securities broker-dealers and reportedly most investor advisors require their customers to agree that disputes that may arise between them must be resolved through arbitration rather than through lawsuits filed in federal or state courts. Critics of this practice argue it unfairly denies investors the right to seek redress through other avenues. Proponents of the practice argue arbitration results in fair outcomes at less cost to the parties involved. Two companion billsS. 1171 and H.R. 2620, which was marked up by the House Financial Services Committee (HFSC) on November 16, 2021would prohibit financial intermediaries from mandating that their customers submit to arbitration to resolve disputes instead of litigating them through federal or state courts. To do so, the bills would amend the Securities Act of 1933 (P.L. 73-22) and the Investment Advisers Act of 1940 (P.L. 76-768). Specifically, they would prohibit broker-dealers, investment advisers, and other intermediaries from incorporating mandatory arbitration clauses in customer agreements. Supporters a