Cite as: 537 U. S. 79 (2002)
Opinion of the Court
Ashley C. Parrish, Donald G. Kempf, Jr., and Bradford D. Kaufman.*
Justice Breyer delivered the opinion of the Court.
This case focuses upon an arbitration rule of the National Association of Securities Dealers (NASD). The rule states that no dispute "shall be eligible for submission to arbitration . . . where six (6) years have elapsed from the occurrence or event giving rise to the . . . dispute." NASD Code of Arbitration Procedure § 10304 (1984) (NASD Code or Code). We must decide whether a court or an NASD arbitrator should apply the rule to the underlying controversy. We conclude that the matter is for the arbitrator.
I
The underlying controversy arises out of investment advice that Dean Witter Reynolds, Inc. (Dean Witter), provided its client, Karen Howsam, when, some time between 1986 and 1994, it recommended that she buy and hold interests in four limited partnerships. Howsam says that Dean Witter misrepresented the virtues of the partnerships. The resulting controversy falls within their standard Client Service Agreement's arbitration clause, which provides:
"[A]ll controversies . . . concerning or arising from . . . any account . . . , any transaction . . . , or . . . the construction, performance or breach of . . . any . . . agreement between us . . . shall be determined by arbitration before any self-regulatory organization or exchange of which Dean Witter is a member." App. 6-7.
*Briefs of amici curiae urging affirmance were filed for the Competitive Enterprise Institute by C. Boyden Gray and James V. DeLong; and for the Securities Industry Association by Douglas R. Cox and Stuart J. Kaswell.
F. Paul Bland, Jr., Deborah M. Zuckerman, and Michael R. Schuster filed a brief for Trial Lawyers for Public Justice et al. as amici curiae.
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