In Goldman, Sachs & Co. v. Golden Empire Schools Financing Authority, ___ F.3d ___, 2014 WL 4099289, at *1 (2d Cir. Aug. 21, 2014), the Court of Appeals for the Second Circuit held that “a forum selection clause requiring ‘all actions and proceedings’ to be brought in federal court supersedes an earlier agreement to arbitrate”—even when the earlier agreement to arbitrate is set forth in the rules of the Financial Industry Regulatory Authority (FINRA). By so holding, the Second Circuit agreed with the holding of the Ninth Circuit in Goldman, Sachs & Co. v. City of Reno, 747 F.3d 733 (9th Cir. 2014), and rejected that of the Fourth Circuit in UBS Financial Services, Inc. v. Carilion Clinic, 706 F.3d 319 (4th Cir. 2013).
Keywords: litigation, ADR, alternative dispute resolution, arbitrability, FINRA, forum selection clause