Oct. 5, 2021 ­— Maurice Wutscher attorney Brady Hermann shared his opinion in a recent AdvisorHub article regarding federal jurisdiction on petitions to confirm or vacate Financial Industry Regulatory Authority arbitration awards.

On Nov. 2, the U.S. Supreme Court will hear a case involving whether a state court may vacate a Finra arbitration panel ruling that has been confirmed by a federal court.

“’This decision by the Supreme Court will determine whether a federal court has jurisdiction over a motion to vacate,’” Mr. Hermann said. “’Brokerages are going to want to be in federal court,’ he said, since state courts are generally less predictable because they are less familiar with arbitration-related statutes.”

Brady Hermann is senior counsel in the Boston and New York offices of Maurice Wutscher LLP. He regularly represents financial services companies including banks, broker-dealers, financial advisors, financial asset buyers and third party debt collectors in individual, class action and regulatory matters. He has successfully represented clients throughout the country against claims for violations of securities laws, the Fair Debt Collection Practices Act, the Telephone Consumer Protection Act, the Fair Credit Reporting Act, and various state consumer protection statutes.