Petitioner moved for an order pursuant to CPLR 7503 permanently staying the arbitration commenced by respondent before the National Association of Securities Dealers, Inc. (hereinafter NASD) on the ground that the claims fail to satisfy the substantive eligibility requirement of section 15 of the NASD Code of Arbitration Procedure (hereinafter the Code). Respondent argued, inter alia, that the Federal Arbitration Act (hereinafter FAA...
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