In the Matter of Larry Salvano, Respondents v. Merrill Lynch, Pierce, Fenner & Smith, Inc., Appellant

Summary

The New York Court of Appeals reversed the Appellate Division, holding that the Supreme Court lacked authority under CPLR article 75 or the Federal Arbitration Act to order expedited arbitration absent an explicit contractual provision, and vacated the arbitrators' award. The court directed the parties to arbitrate under the NYSE Constitution and Rules.