Once there, the status quo remains in place until the arbitration award is rendered.

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In December a Moscow court took more than a month to recognize the Stockholm arbitration award and ultimately refused to honor it because it was "in breach of the public order of the Russian Federation, " said the judge in the case.

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Under Rule 2130, members and associated persons seeking to expunge from the CRD system information arising from disputes with customers must obtain an order from a court of competent jurisdiction directing such expungement or confirming an arbitration award containing expungement relief.

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Steel sued Marvell in August 2000 for wrongful termination and won a small award in arbitration.

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After years in the courts, the case was referred by Ms Lagarde to an arbitration panel in 2007 and she approved its decision to award damages.

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