Merrill Lynch, Pierce, Fenner & Smith, Inc. v. Ware

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that \[s]upervised self-regulation\ is \consonant with the traditional private governance of exchanges\
• noting that “[sjupervised self-regulation” is “consonant with the traditional private governance of exchanges”
• “[C]onflicting law ... should be pre-empted by exchange self-regulation ‘only to the extent necessary to protect the achievement of the aims of the Securities Exchange Act.’ ” (quoting Silver v. N.Y. Stock Exch., 373 U.S. 341, 361, 83 S.Ct. 1246, 10 L.Ed.2d 389 (1963))
• “[C]onflicting law . . . should be pre-empted by exchange self-regulation ‘only to the extent necessary to protect the achievement of the aims of the Securities Exchange Act.’ ” (quoting Silver v. N.Y. Stock Exch., 373 U.S. 341, 361 (1963))
• state law not preempted when Rule 347(b) arbitration does not promote self-policing of securities abuses by exchanges
• California law governs validity of arbitration agreement between broker and its employee contained in constitution of exchange and in employment contract

Source: CourtListener parenthetical corpus (CC0).