A company's ability to prevent disclosure of attorney's notes created during an internal investigation may depend on its use of reports produced in the inquiry

Article Abstract:

Several federal courts have ruled on the confidentiality of attorney memoranda created during investigation of possible corporate irregularities. The judges agreed that attorney-client confidentiality covered attorney interviews with corporation personnel, but disagreed on whether interviews with third parties came under the work-product doctrine and whether the confidentiality privilege was waived by publication of a report of the investigative results. Cases discussed include In re Woolworth Securities Class Action Litigation, In re Kidder Peabody Securities Litigation, Harding v. Dana Transport , Inc. and In re Leslie Fay Cos. Securities Litigation.

Corporate governance, Confidential communications, Attorney-client privilege, Waiver (Civil procedure), Work product privilege (Law)

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The NASD's proposed changes to its arbitration procedures would affect rules on eligibility, punitive damages, discovery and the selection of arbitrators

Article Abstract:

The Natl Assn of Securities Dealers' Arbitration Policy Task Force recently completed its 156-page report, including a series of practical, far-reaching recommendations. Critical, though subtle, is its suggestion that the parties appoint arbitrators through a list-selection method within 45 days after issue is joined. Other important proposals are early and automatic document production, tripling the limit for simplified arbitration to $30,000, and mandatory early neutral evaluation.

Securities arbitration, National Association of Securities Dealers

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The 2d Circuit recently dismissed a lawsuit seeking an arbitration stay and let NASD arbitrators determine punitive damages, attorney fees and limitations

Article Abstract:

Various federal court holdings show a standard New York choice-of-law provision in an arbitration agreement cannot be assumed to mean the courts will enforce state rules limiting arbitrators' authority. For parties wishing the help of such rules, their contract should state that in spite of the arbitrability of all disputes, statute-of-limitations matters will be determined by the courts, and punitive damages and legal fees cannot be awarded at all. Various cases are discussed.

Securities, Conflict of laws, Commercial arbitration, Judicial review of administrative acts, Stays of execution, proceedings, etc., Stays (Law)

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