FINRA Defeats Legal Challenge By Penny Stock Broker Alpine, But Faces Ongoing Legislative Threat
Wall Street’s top watchdog, the Financial Industry Regulatory Authority (FINRA), faces a pivotal moment amid converging legislative and legal challenges that could potentially reshape the future regulatory landscape. The regulator notched a win on Monday, however, as the Supreme Court declined to hear a penny stock broker’s legal challenge to FINRA’s constitutionality.