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Professor Jill I. Gross, Vice Dean for Academic Affairs and a distinguished faculty member of the Elisabeth Haub School of Law at Pace University , is shedding light on the past and future of arbitration law with her newest book, The Federal Arbitration Act: Successes, Failures, and a Roadmap for Reform. Co-edited with Richard A. Bales and published by Cambridge University Press, the book features 30 scholars speaking collectively towards improvements to the Federal Arbitration Act (FAA) as it approaches its 100th anniversary.

Enacted in 1925, the FAA was designed to place arbitration agreements on equal footing with other contracts, reversing historical judicial hostility to pre-dispute arbitration clauses. However, its application has evolved in ways Congress may not have anticipated, especially in consumer and employment disputes. As Professor Gross explains, “The centenary of the FAA is an opportune moment to examine a statute that has profoundly impacted the lives of millions of Americans, and to propose ways to ensure it continues to serve its intended purpose while addressing modern realities.”

The centenary of the FAA is an opportune moment to examine a statute that has profoundly impacted the lives of millions of Americans, and to propose ways to ensure it continues to serve its intended purpose while addressing modern realities.

The timely publication brings together diverse perspectives from scholars, practitioners, and arbitrators, each focusing on different provisions of the FAA. Key recommendations range from modernizing procedural mechanisms, such as addressing the rise of online arbitration, to reassessing the enforceability of arbitration clauses in consumer and employment contracts. “One of the most significant criticisms of the FAA is its role in enforcing class action waivers in arbitration clauses, which can suppress claims by individuals against corporations,” said Professor Gross. “Our contributors offer a variety of reform proposals, including making arbitration clauses enforceable only when they guarantee hallmarks of due process, such as impartiality and fair notice.”

Professor Gross, whose expertise spans commercial and securities arbitration, collaborated with co-editor Richard A. Bales, an authority on labor arbitration, to ensure the book addresses the broad spectrum of arbitration governed by the FAA. “We were impressed by the breadth and novelty of the ideas our contributors proposed,” Professor Gross added. “From updating the language of the statute to aligning arbitration processes with contemporary standards of fairness, the book provides a roadmap for meaningful reform.”

Designed for policymakers, legislators, scholars, and students of arbitration, the book not only critiques the FAA but also underscores its successes. “One of the statute’s great strengths is the predictability it provides for business-to-business disputes, allowing sophisticated parties to choose arbitration confidently,” said Gross. “Our goal in suggesting reforms was to retain these strengths while ensuring the statute does not disadvantage vulnerable parties.”

Professor Jill I. Gross is a nationally known expert in the field of securities dispute resolution, and teaches courses in the areas of dispute resolution, ethics, securities law and lawyering skills. She was the James D. Hopkins Professor of Law, a two-year rotating endowed Chair, from 2013–2015, Director of the Investor Rights Clinic from 1999–2015, and Director of Legal Skills Programs from 2010–2015. She also has taught at Cornell Law School, UNLV’s Boyd School of Law and Benjamin N. Cardozo School of Law. In addition to this recent publication, Professor Gross is an author of the preeminent treatise, Broker-Dealer Law and Regulation (Wolters Kluwer 5th ed. 2018, annually updated) (with J. Fanto and N. Poser), and the casebook Arbitration: Law, Policy and Practice (Carolina Academic Press 2018, 2d ed. 2024). She has published dozens of book chapters and articles on the negotiation, mediation and arbitration of securities and other commercial disputes. She has chaired the AALS Section of Dispute Resolution, the Securities ADR Committee of the ABA Section of Dispute Resolution and the Practising Law Institute’s annual Securities Arbitration program. She is also an arbitrator for the American Arbitration Association, and FINRA Dispute Resolution Services, and a former public member of the FINRA National Arbitration and Mediation Committee and the Securities Experts Roundtable. She has been quoted dozens of times in the national media, and retained as an expert in securities arbitrations, litigations and enforcement proceedings. Before entering legal education, Professor Gross was an attorney in several New York City law firms, representing clients in white collar criminal and securities enforcement proceedings, securities arbitrations, and other commercial litigation. She received an AB magna cum laude, Phi Beta Kappa, from Cornell University and a JD cum laude from Harvard Law School.

This year’s Giving Tuesday showcased the unstoppable energy and generosity of the Pace Community. Together, we didn’t just meet our goal—we soared past it, achieving an awe-inspiring 2,674 donations from 40 states and 3 countries. Your collective impact has raised $768,822 (and counting!), unlocking life-changing opportunities for our students and ensuring they have the resources to thrive on the Pace Path.

If you haven’t yet joined this incredible movement, there’s still time to make a difference. Be part of a growing legacy of generosity and transformation by making your gift today.

And the momentum doesn’t stop here. Mark your calendars for April 23–24, 2025, when the Setter Community comes together for the Pace University 1906 Challenge—a chance to further amplify your impact and support the dreams and success of Pace students.

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Kristina Krichmaryov

Class of 2026
BS in Computational Economics

How did you become interested in pursuing a BS in Computational Economics?

For me, it came down to three factors: to receive the most return on my tuition investment, to challenge my intellect, and to enjoy my studies. I was an undecided student at first but became fascinated by an introductory computer science course I had taken and wanted to find a way to incorporate economics with computer science. So, the perfect opportunity arose when Professor Mary Kaltenberg, PhD mentioned she was establishing a new major: Computational Economics. At the end of my sophomore year, I made the switch and never looked back.

As president of the student organization, Women in Economics, you co-organized an event with the Economics Society to bring prominent labor economist Daniel Hamermesh, PhD, to the New York City campus. How did this opportunity come about and how was it meaningful to you?

We were able to bring Mr. Hamermesh to Pace due to Professor Kaltenberg’s connections, and, once here, he presented his research on “Beauty in Our (Economic) Lives,” or “Beauty Pays: Why Attractive People Are More Successful.” His research includes findings on how beauty increases an individual’s success, employment, and productivity. After his presentation, we had an open Q&A with our audience. It was a remarkably successful, engaging, and entertaining event.

It was also inspirational and eye-opening; while some may find Dr. Hamermesh’s research to be a bit controversial, I find it inspiring that he continues to research what he is interested in and raises questions that are often kept in the dark. It reminded me to remain authentic.

What are your thoughts on the theme of women in economics and how Pace has been a supporter of this?

The theme of women in economics is very prominent at Pace. As everyone knows, the field of economics is male-dominated, even at colleges and universities nationwide. However, Pace is one of those unique universities with predominantly female students in its Economics Department, fostering a tight-knit community of intellectual individuals. The entire department is extremely supportive, resourceful, helpful, and welcoming to all economics students and those of other majors. At Pace, in addition to Women in Economics and the Economics Society, there are many extracurricular activities that allow students to explore their curiosity, such as conducting research both within and outside of class, or exploring fiscal policy with the nationally placed Fiscal Challenge team, and monetary policy with the nationally placed Federal Reserve Challenge team. Most of our female students are in charge of these extracurricular activities and maintain strong leadership and supporting roles.

Pace is one of those unique universities with predominantly female students in its Economics Department, fostering a tight-knit community of intellectual individuals.

What have your experiences been like with the Economics Department? How has faculty been instrumental in your academic journey?

Since my first semester at Pace, I have been either in contact with or deeply involved with the Economics Department and have taken advantage of every opportunity. From the very beginning, I have had only positive experiences with the faculty and students. The economics community is like a family, and in times of distress, in celebration of personal achievements, or to pursue an interest, the faculty has been there for me through it all, especially Professor Sam Baruch.

What challenges have you overcome and are willing to share/proud of?

One personal challenge that I am proud of overcoming is social anxiety. When I was younger, I was shy and introverted, but then began to grow into my identity, with greater self-confidence, public speaking skills, and self-respect by pushing myself out of my comfort zone, looking within and self-reflecting, and being honest with myself. To this day, anywhere I step foot, anything I do, or anyone I speak with, I hold these personal accomplishments dearly and continue to work to become the best version of myself while trying to help others as much as possible.

What would you like to do after graduation/what are your career plans?

After graduation, I will be moving to Ukraine to spend time with my family. From there, I am keeping an open mind and not setting everything in stone. When I am older and look back on my youth, I want to remember experiencing life and the world. Perhaps I will backpack in Europe, train in Muay Thai, the martial art, return to school for physics, law, or medicine, start a business, or pursue a master's and PhD. Whatever God and life have in store for me.

What advice, if any, would you like to give to prospective or current students?

Befriend fear. Push yourself out of your comfort zone to grow. Learning never ends, so ask questions, read, and challenge yourself. Health is true wealth. Practice staying grateful, patient, and humble. Work on yourself mentally, physically, and spiritually. Learn and know when to say no. Set and uphold your boundaries no matter who you are talking to. It’s the little things that count. You are your greatest investment.