Finra ‘looks forward’ to defending enforcement authority in court

A Washington, D.C., federal court this week prevented Finra from expelling a brokerage it found to have harmed customers, but the regulator is confident it can defend its enforcement authority in that case and a separate one that was filed earlier this month.

Tuesday, the U.S. Court of Appeals for the D.C. Circuit upheld a preliminary injunction against the Financial Industry Regulatory Authority Inc. that allows Alpine Securities Corp. to continue to conduct business while it appeals a March 2022 Finra decision barring the firm from the financial industry.


“While disappointed with the decision on this motion, Finra looks forward to the D.C. Circuit’s consideration of plaintiffs’ appeal, when Finra and the United States Government will present their defenses to plaintiffs’ novel and unsupported constitutional arguments,” Finra said in a statement through spokesperson Ray Pellecchia.

Source: Finra ‘looks forward’ to defending enforcement authority in court