Tag: fines

Does the SEC need authority to impose larger civil penalties? SEC Chairman Mary Schapiro recently told Congress the agency needs additional authority to impose large fines. The story broke in the press the day Judge Rakoff issued his order rejecting …

DOES THE SEC NEED AUTHORITY TO IMPOSE LARGER FINES? Read More »

Tagged with: , , ,

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 …

FINRA CANNOT SUE TO COLLECT FINES Read More »

Tagged with: , ,