I read today about a lawsuit that two registered persons, one of whom is a Chief Compliance Officer, filed against FINRA in federal court a couple of weeks ago. Mind you, lawsuits against FINRA are not particularly common, given the fact that FINRA has “absolute immunity” against monetary claims arising out of its regulatory activities.
Rule 8210
Narrative Answers in Enforcement Proceedings: Practical, Yet Impossible
By UB Greensfelder on
At a recent industry conference in New York, members of FINRA’s Office of Hearing Officers gathered to discuss current issues and topics relevant to FINRA disciplinary hearings. During one of the sessions, a Hearing Officer panelist lamented the format of the Answers he typically receives from the respondents in his cases. Almost without exception, respondents…