2nd Cir. Upholds Confirmation of FINRA Arbitration Award

NEW YORK — A federal appellate panel has upheld confirmation of a FINRA arbitration award, finding the district court properly considered the parties’ arguments, including a challenge of an arbitrator’s qualifications.

The 2nd Circuit U.S. Court of Appeals panel said it cannot conclude that the trial court improperly failed to address or consider the parties’ arguments.

Under the terms of a placement agreement, First Capital agreed to pay SDDCO Brokerage Advisors LLC a 10 percent fee if SDDCO was able to obtain financing for First Capital or a commonly controlled company of First Capital.

SDDCO obtained a $2 million …