Rethinking statutory antiwaiver provisions following the Lloyd's of Londonlitigation

In the Lloyd's of London cases, the United States Courts of Appeals upheld certain forum-selection clauses that effectually deprived investors of the protections of the federal securities laws as if the investors had expressl y waived those protections. This article examines statutory antiwaiver prov isions in light of the Lloyd's cases, exploring the effect chose provisions have on the administration of the federal securities laws, and suggests th at the law be amended to allow contractual waiver in certain circumstances.