Court ruling limits FINRA's power, raises concerns about SEC under Trump
A court ruling has determined that the Financial Industry Regulatory Authority (FINRA) cannot shut down broker-dealers without approval from the Securities and Exchange Commission (SEC). This decision has created more uncertainty regarding market regulation, particularly with the incoming Republican administration's plans for deregulation. The case involves Alpine Securities, a Utah-based brokerage, and its ongoing legal dispute with FINRA. The ruling's implications are significant, and some experts believe it could challenge FINRA's legal foundation. President Trump has nominated Paul Atkins, a former SEC commissioner and crypto advocate, to lead the SEC, which could lead to changes in the regulatory framework and the potential weakening of self-regulators like FINRA.
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