Judge Laura Taylor Swain of the Southern District of New York has issued a decision defining a customer, for purposes of FINRA Rule 12200 as being a person or entity who have an account with the member, or who has purchased goods and services from the member.

In doing so, it orders some claims in the case to arbitration, and refuses to send claims against one defendant to arbitration.

The decision, and an analysis by the Securities Arbitration Commentator are online at their site – SDNY Defines Customer under FINRA Rule 12200