{"id":5439,"date":"2013-03-07T00:00:00","date_gmt":"2013-03-07T06:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2013\/03\/nasaa_looking_to_ban_investmen"},"modified":"2022-05-02T15:32:18","modified_gmt":"2022-05-02T20:32:18","slug":"nasaa-looking-to-ban-investmen","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/nasaa-looking-to-ban-investmen\/","title":{"rendered":"NASAA Wants Investment Advisers To Be Banned From Forcing Clients Into Mandatory Arbitration"},"content":{"rendered":"\n<p>The North American Securities Administrations Association Inc. wants Congress to put into place a law to bar investment advisers from making clients go through arbitration to resolve their securities claims. They also want lawmakers to make either the SEC propose a rule that would get rid of the pre-dispute arbitration clauses currently found in broker firm contracts or push for similarly purposed legislation. The association recently unveiled its legislative priorities, which includes getting a discourse going about a recent FINRA panel ruling that found that the self-regulatory organization could not prevent Charles Schwab Corp. (SCHW) from using agreements that include mandatory pre-arbitration clauses to bar clients from taking part in class action securities cases. <\/p>\n<p>NASAA President Heath Abshure has spoken about how giving investors options when it comes to settling claims is key to making them feel more confident about the financial markets. He said that when seeking relief they should have the option of going to the forum of their choice. The association also wants there to be legislation that would let the SEC impose user fees when investment advisors take exams (The group\u2019s members believe this would enhance adviser oversight), as well as a law that would let crowdfunding victims file class action securities lawsuits. Crowdfunding involves using the Internet to sell securities in small batches to nonaccredited investors. <\/p>\n<p>NASAA is hoping that the significant turnover that occurred in both the House and the Senate will give the organization a chance to generate new support. <\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/nasaa-looking-to-ban-investmen\/\"  title=\"Continue Reading NASAA Wants Investment Advisers To Be Banned From Forcing Clients Into Mandatory Arbitration\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>The North American Securities Administrations Association Inc. wants Congress to put into place a law to bar investment advisers from making clients go through arbitration to resolve their securities claims. They also want lawmakers to make either the SEC propose a rule that would get rid of the pre-dispute arbitration clauses currently found in broker [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3781],"tags":[],"class_list":["post-5439","post","type-post","status-publish","format-standard","hentry","category-investment-advisers"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>NASAA Wants Investment Advisers To Be Banned From Forcing Clients Into Mandatory Arbitration &#8212; Investor Lawyers Blog &#8212; March 7, 2013<\/title>\n<meta name=\"description\" content=\"The North American Securities Administrations Association Inc. wants Congress to put into place a law to bar investment advisers from making clients go &#8212; March 7, 2013\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/nasaa-looking-to-ban-investmen\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"NASAA Wants Investment Advisers To Be Banned From Forcing Clients Into Mandatory Arbitration &#8212; Investor Lawyers Blog &#8212; March 7, 2013\" \/>\n<meta name=\"twitter:description\" content=\"The North American Securities Administrations Association Inc. wants Congress to put into place a law to bar investment advisers from making clients go &#8212; March 7, 2013\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"NASAA Wants Investment Advisers To Be Banned From Forcing Clients Into Mandatory Arbitration &#8212; 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