Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

Thursday, October 6, 2011

2d Circuit: FINRA Can't Sue to Collect Fines

On Oct. 5, 2011 the Second Circuit held that FINRA does not have the authority to bring judicial actions to collect disciplinary fines.  Fiero v. FINRA (09-1556-cv (L))(Download Fireo v FINRA).  Because I currently sit on the National Appellate Council of FINRA, I am not commenting on the opinion.

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