Arbitrators Properly Applied FAA Rather Than State Arbitration Law, 7th Cir. Affirms

CHICAGO — An arbitration panel did not manifestly disregard the law by applying the Federal Arbitration Act rather than Wisconsin law in issuing an award in favor of a financial services company in a dispute with one of its former financial advisors, a federal appeals court has affirmed.

On Jan. 30, the 7th Circuit U.S. Court of Appeals found the appellant’s arguments fell short of the high standard needed to upset the outcome of an arbitral proceeding.

In 2009, Ameriprise, a member of the Financial Industry Regulatory Authority, entered into a franchise agreement with Paul J. Renard under which Renard …