Year: 2011

THIS WEEK IN SECURITIES LITIGATION (October 7, 2011)

The SEC settled two insider trading cases this week while bringing three investment fund fraud suits, two of which involved recidivists who are alleged to have diverted investor funds from their current scheme to make payments in their prior criminal

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FINRA CANNOT SUE TO COLLECT FINES

FINRA has no authority to bring an action in federal court to collect fines it imposes on members according to the Second Circuit Court of Appeals. Likewise, a rule the SRO issued over two decades ago under which it claimed

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