FINRA Will Appeal Schwab Ruling

Yesterday, we discussed an anti-investor ruling that permits Charles Schwab & Company to force its customers to waive their right to participate in class actions against Schwab. That ruling potentially could lead to such a restriction becoming an industry-wide practice. We mentioned that FINRA might choose to appeal the ruling. The word “might” no longer applies. FINRA has announced that is in the process of filing an appeal.