Pictet Overseas Inc. v. Helvetia Trust

JILL PRYOR, Circuit Judge:

*1185This appeal requires us to determine the arbitrability of a dispute under the rules governing members of the Financial Industry Regulatory Authority ("FINRA"). The dispute arose after two investment trusts, Helvetia Trust and AAA Group International Trust (the "Trusts"), hired an independent asset manager to invest their funds. Through the asset manager, the Trusts opened custodial accounts with Banque Pictet, a Swiss bank. Unfortunately for the Trusts, the investment manager was less than honest and stole their money.

In an effort to recover their losses, the Trusts…