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Broker-Dealer Appeals Financial Industry Regulatory Authority (FINRA)

Morgan Lewis

Securities Enforcement Roundup – July 2025

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In this issue of our monthly Securities Enforcement Roundup, we highlight top securities enforcement developments from July 2025. In July 2025: As part of its FINRA Forward program, FINRA CEO Robert Cook announced a new...more

Kohrman Jackson & Krantz LLP

Industry Pushback Against FINRA: A Growing Challenge to Its Authority

Over the last few years, broker dealers and financial advisors have filed a flurry of legal actions seeking both: (1) to strip the Financial Industry Regulatory Authority (FINRA) of its power to adjudicate customer and...more

Carlton Fields

U.S. Supreme Court Denies Alpine’s Petition Challenging Constitutionality of FINRA Enforcement Proceedings

Carlton Fields on

On June 2, 2025, the U.S. Supreme Court denied a petition for writ of certiorari filed by Alpine Securities Corp. in Alpine Securities Corp. v. Financial Industry Regulatory Authority. In doing so, the Supreme Court declined...more

Shumaker, Loop & Kendrick, LLP

Client Alert: FINRA Issues Administrative Order and Decision Regarding Alpine Sanctions

On March 25, 2025, the Financial Industry Regulatory Authority (FINRA) issued a 100-page Administrative Order and Decision confirming and modifying its sanctions of Alpine Securities Corporation, which include expulsion from...more

Carlton Fields

Piecing Alpine Together

Carlton Fields on

Is FINRA constitutional? According to the D.C. Circuit’s November 2024 opinion in Alpine Securities Corp. v. FINRA, FINRA proceedings may be unconstitutional in one narrow set of circumstances. ...more

Carlton Fields

Fourth Circuit Holds It Lacks Jurisdiction to Consider Petition to Vacate

Carlton Fields on

The Fourth Circuit Court of Appeals recently held that it lacked jurisdiction over a petition to vacate an arbitration award....more

Shumaker, Loop & Kendrick, LLP

Client Alert: FINRA’s Enforcement Arm Under Fire

Recent case developments in Alpine Sec. Corp. v. FINRA before the D.C. Circuit cast further uncertainty on the future of the Financial Industry Regulatory Authority (FINRA)’s enforcement arm....more

Eversheds Sutherland (US) LLP

Dual registrant regulatory roundup - July 2024

Welcome to the Regulatory Roundup. Each month, Eversheds Sutherland Investment Services attorneys review significant regulatory developments (including notable rulemakings and guidance from securities regulators) from the...more

Bracewell LLP

FINRA Facts and Trends: July 2023

Bracewell LLP on

Welcome to the latest issue of Bracewell’s FINRA Facts and Trends, a monthly newsletter devoted to condensing and digesting recent FINRA developments in the areas of enforcement, regulation and dispute resolution. This month,...more

UB Greensfelder LLP

Another Day, Another Complaint About The Unlevel Playing Field In FINRA Arbitrations

UB Greensfelder LLP on

I just read this article... – admittedly authored by lawyers, Ethan Brecher and Ana Montoya, whose website provides that one of their three principal areas of practice is representing investors “who have been defrauded by...more

UB Greensfelder LLP

Federal Judge Rules That While Zoom Arbitrations Are “Clunkier,” They Are Not Unfair

UB Greensfelder LLP on

Carlos Legaspy is a respondent in a FINRA arbitration that was scheduled to go to hearing in August. As with all other FINRA cases, it was subject to a sweeping administrative decision by FINRA to postpone all in-person...more

UB Greensfelder LLP

FINRA Touts The Fact That Its Examinations Need Not Be “Fair”

UB Greensfelder LLP on

While I feel I have enjoyed as much success defending respondents in FINRA Enforcement matters as anyone, I am still careful to caution clients who are unwilling to consider any settlement that going toe-to-toe with FINRA at...more

A&O Shearman

Third Circuit Upholds Customer's Right To FINRA Arbitration Despite Brokerage Agreements' Forum-Selection Clause Providing Right...

A&O Shearman on

On August 7, 2018, the U.S. Court of Appeals for the Third Circuit affirmed a district court order compelling defendant, a broker-dealer and member of the Financial Industry Regulatory Authority (FINRA), to submit to FINRA...more

Bass, Berry & Sims PLC

Chris Lazarini Analyzes Mandatory Arbitration Rule under FINRA Rule 12200

Bass, Berry & Sims attorney Chris Lazarini analyzed a case in which defendant Wilson-Davis, a securities firm, sought to enjoin an arbitration brought against it alleging that the firm's failure to supervise its agent caused...more

Bass, Berry & Sims PLC

Chris Lazarini Provides Insight on Lawsuit Dismissal on Res Judicata Grounds

Bass, Berry & Sims PLC on

Bass, Berry & Sims attorney Chris Lazarini provided insight on a lawsuit involving a former broker of Wells Fargo who sued the firm in state court for fraud and personal injury when the company initiated a foreclosure action...more

Sheppard Mullin Richter & Hampton LLP

Second Circuit Holds Forum Selection Clause Supersedes FINRA’s Mandatory Arbitration Rule

In Goldman, Sachs & Co. v. Golden Empire Schools Financing Authority, No. 13-797-cv, 2014 WL 4099289 (2d Cir. Aug. 21, 2014), the United States Court of Appeals for the Second Circuit held that a forum selection clause in a...more

Katten Muchin Rosenman LLP

Second Circuit Decision Provides Guidance for Drafting Enforceable Broker-Dealer Agreement Forum Selection Clause

On August 21, the US Court of Appeals for the Second Circuit decided two closely watched appeals regarding the intersection of Financial Industry Regulatory Authority, Inc. (FINRA) rules mandating arbitration of...more

Bracewell LLP

Second Circuit Rules Broad Forum Selection Clause Trumps FINRA Rule Requiring Arbitration

Bracewell LLP on

On August 21, 2014, the United States Court of Appeals for the Second Circuit joined the Ninth Circuit in holding that FINRA rules requiring arbitration of customer disputes may be superseded by an agreement between a member...more

Katten Muchin Rosenman LLP

Second Circuit Holds Mandatory Broker Dealer Arbitration Not Available to Non-Customer

On May 15, the US Court of Appeals for the Second Circuit issued a summary order in a closely watched case regarding the circumstances in which a broker dealer may be compelled to arbitrate with an institutional counter-party...more

Burr & Forman

Is A Licensed Securities Dealer A “Professional” Under Alabama Law Prohibiting Enforcement Of Nonsolicitation Agreements Against...

Burr & Forman on

The Alabama Court of Civil Appeals released a slip opinion on May 16, 2014 addressing enforcement of a nonsolicitation agreement against a licensed securities broker. See G.L.S. & Associates, Inc., and G.L. Smith &...more

Eversheds Sutherland (US) LLP

Stepping Into the Ring Against the SEC and FINRA: Sometimes It Pays to Duke It Out Against the Regulators

Originally published in Thomson Reuters - Securities Regulation Law Journal - Winter 2012. Faced with the possibility of litigating against the Securities and Exchange Commission (SEC) or the Financial Industry...more

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