FINRA To Renew Fight Against Schwab's Class Action Waiver

Law360, New York (February 26, 2013, 8:52 PM EST) -- The Financial Industry Regulatory Authority will appeal a FINRA panel's ruling that would allow the Charles Schwab Corp. to enforce arbitration provisions that bar clients from filing class actions, a FINRA spokeswoman told Law360 on Tuesday.

Charles Schwab & Co. Inc. appeared to score a win Thursday when the panel invoked the Supreme Court’s ruling in AT&T Mobility LLC v. Concepcion and found the broker can force customers to sign forced-arbitration agreements that waive their right to file class actions, even though FINRA rules don't allow investment...
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