Financial Industry Regulatory Authority

  • Judge denies Citigroup’s request to overturn $54 million ruling

    A U.S. judge smacked down Citigroup on Wednesday, denying its request to overturn a ruling that will cost the company $54.1 million in damages and fees.

  • UBS charged by SEC, pays $8 million

    One would think there’s a giant, bronze statue of Eliot Ness standing in the middle of the Enforcement Division of the Securities and Exchange Commission with their dogged pursuit of wrongdoers these days.

  • Litigation: Is FINRA still fine?

    On Oct. 5, 2011, the 2ndCircuit held in Fiero Brothers v. FINRAthat the Financial Industry Regulatory Authority (“FINRA”) lacks the power to sue its members to collect fines it imposes in disciplinary proceedings. The decision arose from FINRA’s suit against the Fiero Brothers securities firm to recover a $1,000,000 fine.

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