FIA files amicus brief on permissible venues to arbitrate futures disputes

31 May 2019

FIA has submitted an amicus brief to the U.S. District Court for the Northern District of Illinois in a case that will decide the permissible venues for the arbitration of futures trading disputes under CFTC rules.

The brief argues that CFTC rules do not allow firms to select FINRA to hear a dispute that exclusively relates to futures transactions.  FIA warned that allowing firms to "arbitrate disputes over futures transactions executed by an intermediary dually registered with the CFTC and SEC...would result in potentially duplicative or inconsistent regulations in the futures markets that Congress sought to avoid by granting the CFTC exclusive jurisdiction over those markets."

  • FIA