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A federal appeals court has ruled that the Financial Industry Regulatory Authority (FINRA) likely lacks the authority to unilaterally expel brokerages accused of misconduct. This decision is significant for Wall Street, as it challenges the self-regulatory organization's power. The ruling comes amid broader discussions regarding the delegation of powers to federal agencies, as the Supreme Court has agreed to hear cases that may redefine the limits of congressional authority over executive agencies. These developments reflect ongoing legal challenges that could impact regulatory frameworks in the financial sector and beyond.
When the Supreme Court convenes for arguments in December, the justices will hear from the top lawyer for the Biden administration, who will urge them to strike down laws in nearly half the states that ban hormone treatments for transgender minors. https://t.co/pMR6mEuINP
The Attorney General alleges that two UT Southwestern and Children's Health pediatricians illegally provided "gender transition" treatments to minors. https://t.co/QvtBQk8n4f
[Jonathan H. Adler] DC Circuit Finds Some FINRA Authority Violates Private Nondelegation Doctrine https://t.co/sHZRGDtUFF