May 15, 2014
The Second Circuit on Thursday dashed a Connecticut hedge fund's bid to bring a $13 million Financial Industry Regulatory Authority arbitration claim against a SunTrust Banks Inc. unit over soured mortgage-backed securities, agreeing with a lower court's finding that the firm was not a customer of the bank.
April 21, 2014
An attorney for Connecticut-based hedge fund Turnberry Capital Management LP told a panel for the Second Circuit Monday that the Financial Industry Regulatory Authority's definition of a "customer" should not be narrowly interpreted against the spirit of FINRA's core mission.
April 17, 2014
A Connecticut hedge fund faces an uphill battle in the Second Circuit next week in a bid to overturn a district court's narrow definition of "customer" under the Financial Industry Regulatory Authority's arbitration rules despite FINRA's open-ended interpretation of the term, attorneys say.