Wachovia Bank, National Ass'n v. VCG Special Opportunities Master Fund, Ltd.

How courts have described this case

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

• holding that a purchaser of a credit default swap from “Wachovia Bank, N.A.” was not a “customer” of affiliate “Wachovia Capital Markets, LLC”
• holding that no customer relationship existed where FIN-RA member provided no “agency, brokerage, advisory or fiduciary services” for opposing party, and no brokerage services agreement existed
• stating that word “customer” must “be construed in a manner consistent with the ‘reasonable expectations’ of FINRA members”
• explaining that FINRA is successor to NASD and is SRO
• finding no customer relationship where FINRA member participated in the transaction but did not recommend it or have a preexisting brokerage relationship with the other party
• enjoining an arbitration because, inter alia, there was no brokerage agreement between the parties

Source: CourtListener parenthetical corpus (CC0).