Schwab and FINRA dispute class-action waivers

03/18/2012 | Wall Street Journal, The

The Financial Industry Regulatory Authority contends that Charles Schwab was not authorized to add to customer agreements a waiver requiring brokerage clients to use arbitration in class-action lawsuits. FINRA has filed a disciplinary hearing against the company. But Schwab has sued FINRA to get a legal decision on the matter. A U.S. district court hearing is set for April.

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Wall Street Journal, The

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