United States Trust Co. v. Rich

STEELMAN, Judge.

The trial court did not abuse its discretion in denying defendants’ motion for re-hearing upon remand from the Court of Appeals. Where plaintiff does not qualify as an “associated person” under FINRA code of Arbitration Procedure for Industry Disputes or FINRA By-Laws and plaintiff was not a third-party beneficiary of defendants’ Form U-4s, the trial court did not err in denying defendants’ motion to stay litigation and compel arbitration.

I. Factual and Procedural History

United States Trust Company, N.A. (“plaintiff’) is a wealth management services company. Plaintiff’s…