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Leslie Bonacum
Neil Allen

SCAN PLUSTM From CCH Pinpoints Securities Arbitration Awards

(RIVERWOODS, ILL., June 21, 2002) – Attorneys and others searching for precedent-setting securities arbitration awards now have a new and powerful tool as a result of a cooperative effort between Securities Arbitration Commentator, Inc. (SAC), the premier research resource for the securities/commodities arbitration field, and CCH INCORPORATED (CCH), a leading provider of securities law information and software. SCAN PlusTM is a comprehensive Internet tool for researching vast numbers of awards from many securities arbitration forums and then obtaining actual copies of securities arbitration awards in minutes. (For more information, call CCH at 1-888-224-7377 or visit the SCAN website at

SCAN Plus is based on the combination of a powerful database and the world’s most comprehensive collection of securities arbitration awards, compiled and catalogued by SAC since 1989. The library includes award documents from every forum that hears securities arbitration disputes, including the NASD, NYSE, PCX, AAA, NFA, CBOE, AMEX, MSRB and PHLX. The SAC database gives SCAN Plus users access to over 28,000 securities arbitration awards.

Each award in the SAC database has been analyzed and systematically coded by up to 60 different fields. This SAC award database has been cited by the U.S. Government Accounting Office in its June 2000 report on customers in arbitration as "the only comprehensive, consistent information available."

Codes Help Zero In On Awards

Research time is slashed for those using SCAN Plus, according to Lucy Smith, marketing manager for the CCH Securities Group.

"Because of the coding, researchers can use ‘smart,’ field-based searches that zero in precisely on the awards that can shine light on their clients’ situation or fortify a point that they want to make," Smith said. "It’s been exciting to introduce customers to this new tool, since their common reaction is that this one service could potentially save several days of research and analysis time for each arbitration case they handle."

For example. a SCAN Plus "Arbitrator Search" feature quickly locates all awards handed down by a given arbitrator, returning a report that distills the pertinent facts into an easy format for analysis. The search can be further sorted by various criteria, including the amount awarded in ascending or descending order and limited by forum, limited to customer disputes or employment disputes or limited by other parameters to exclude irrelevant cases.

The SCAN Plus "People Search" feature allows searching by fields such as Short Caption, Broker/Dealer name, Claimants, Respondents, Other Parties and Professionals/Experts to find out background information on parties and professionals involved in other arbitration cases.

"This makes it easy to find out if arbitrators have made remarks, conclusions and findings on an award, if a broker has been in trouble with other firms, if a claimant has a history of filing a given type of claim and so on," Smith noted.

In addition, a SCAN Plus "Power Search" feature (to be released later this year) will allow users to develop complex queries to target awards that will specifically advance their clients’ interest by analyzing fact patterns from past cases. For example, it might be advantageous to know whether arbitrator John Doe has ever awarded more than $100,000 in punitive damages for a churning case against an NASD member firm. Another example would be to see if a specific broker-dealer was enforcing their restrictive covenants in raiding cases. With a SCAN Plus "Power Search" it will be simple to frame a search for these precise points and have a copy of the awards in hand in minutes.

"Best of all, these powerful capabilities are available on demand, 24 hours a day, from anywhere with an Internet connection," Smith observed.

Reports Summarize Findings

When users perform a search using SCAN Plus, the system immediately returns an Award Summary Report (ASR) that distills the facts of each award that matches their criteria — saving researchers the necessity of reading through the complete award texts to identify the key points. Three ASR formats are available.

    • The Basic ASR includes fields for Short Caption, Forum, Docket Number, Issue Date, Total Claimed/Awarded, City & State, Arbitrator Name(s), Type of Dispute and Remarks.
    • The Individual ASR includes information from Basic summary plus Costs Assessed, Award Breakdown, Professional Who Represented the Parties.
    • The Expanded ASR includes information from Basic and Individual summaries plus a complete breakdown of all claimed and awarded damages.

When users identify an award that they feel is relevant to their clients’ situation, they need simply click a "View Award" button to download an actual scanned copy of the award – complete with signature in a PDF file, which they can then save or print and which are submissible in arbitration.

Availability and Pricing

SCAN Plus is available by subscription or for one-time use with pay-as-you-go pricing. For more information on SCAN Plus and other SCAN products, call CCH at 888-224-7377 or visit the SCAN website


CCH INCORPORATED, headquartered in Riverwoods, Ill., was founded in 1913 and has served four generations of business professionals and their clients. The company produces more than 700 electronic and print products for the tax, legal, securities, human resources, health care and small business markets. CCH is a wholly owned subsidiary of Wolters Kluwer North America. The CCH web site can be accessed at The CCH Business and Finance site can be accessed at

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