Preliminary Injunction Ruling In FINRA Arbitration Dispute Remanded

Mealey's (May 3, 2019, 1:58 PM EDT) -- SAN FRANCISCO — A federal district court erred in denying a federally chartered bank’s motion for preliminary injunction to avoid arbitration with the Financial Industry Regulatory Association (FINRA) because neither the bank nor its corporate trust department (CTD) is a municipal securities dealer subject to the Municipal Securities Rulemaking Board’s (MSRB) requirement of arbitration before FINRA, a Ninth Circuit U.S. Court of Appeals panel ruled May 2 (BOKF, NA v. Robert Estes, et al., No. 18-15369, 9th Cir., 2019 U.S. App. LEXIS 13236)....