Legal Opinion
Shearson Hayden Stone, Inc. v. Scrivener
Court of Appeals for the Second Circuit
Decided January 4, 1982No. 433, Docket 81-7592PublishedCited by 6 opinions
1Opinion of the Court
MESKILL, Circuit Judge:
We are asked to determine in this case of first impression whether the failure of a brokerage firm to open a commodities account is a transaction subject to the arbitration regulations of the Commodities Futures Trading Commission (CFTC), 17 C.F.R. § 180.1 et seq. (1981). The district court held that it is. Shearson Hayden Stone, Inc. v. Scrivener, No. 79-4658 (S.D.N.Y. July 24, 1981). We disagree. We believe that the CFTC arbitration regulations were not intended to apply where a brokerage firm has yet to handle a customer’s commodities account.
BACKGROUND
This appeal…
2Cases cited4 opinions
- Consumer Product Safety Commission v. GTE Sylvania, Inc.Supreme Court of the United States · 1980
- Harold Ames v. Merrill Lynch, Pierce, Fenner & Smith, Inc. And Christopher v. StreitCourt of Appeals for the Second Circuit · 1977
- Terkildsen v. WatersCourt of Appeals for the Second Circuit · 1973
- Shearson Hayden Stone, Inc. v. ScrivenerDistrict Court, S.D. New York · 1979
3Cited by6 opinions
- United States v. Peter ReaCourt of Appeals for the Second Circuit · 1982
- Nilsen v. Prudential-Bache SecuritiesDistrict Court, S.D. New York · 1991
- Merrill Lynch Commodities Inc. v. Richal Shipping Corp.District Court, S.D. New York · 1984
- AXA Equitable Life Insurance v. Infinity Financial Group, LLCDistrict Court, S.D. Florida · 2009
- Sease v. PaineWebber, Inc.District Court, S.D. Florida · 1988
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