SDNY Defines Customer under FINRA Rule 12200

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


Mark J. Astarita, Esq. represents investors, financial professionals and firms in litigation, arbitration and regulatory matters across the country. He is a partner in the national securities law firm of Sallah Astarita & Cox, LLC and can be reached by email at mja@sallahlaw.com or by phone at 212-509-6544.

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