Fiero v. Financial Industry Regulatory Authority, Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• noting that FINRA’s “longstanding reliance” on enforcement mechanisms other than fines -- and Congress’s failure to alter 69 FINRA’s enforcement powers -- “indicates that FINRA is not authorized to enforce the collection of its fines through the courts”
• distinguishing between FINRA rules promulgated through notice- and-comment rulemaking, which carry the force of law, and FINRA “Notices to Members,” which do not
• noting FINRA’s responsibility for regulating securities firms that do business with the public
• finding significant that the 31 the same three‐year statutes of repose that we applied to Section 14 in Ceres—which are the three‐year statutes of repose that, until Congress passed SOX, applied to Sections 9(f) and 18(a)—still apply to Section 14(a
• finding significant that the 31 the same three‐year statutes of repose that we applied to Section 14 in Ceres—which are the three‐year statutes of repose that, until Congress passed SOX, applied to Sections 9(f) and 18(a)—still apply to Section 14(a
• “One cannot' deal in securities with the public without being a member of FINRA.”

Source: CourtListener parenthetical corpus (CC0).