Law360, New York (April 18, 2016, 8:13 PM EDT) -- The U.S. Securities and Exchange Commission on Monday urged a Maryland federal judge to dump a lawsuit challenging the powers of the Financial Industry Regulatory Authority, saying that the matter isn’t yet ripe for a federal court to look at.In an amicus brief filed on behalf of the Wall Street-funded regulator, SEC attorneys said that Scottsdale Capital Advisors Corp. shouldn’t be allowed to bypass FINRA's internal review process to raise complaints about its regulatory powers. Instead, the Exchange Act of 1934 requires the firm and three of its executives to first raise their complaints before the regulator itself and then... In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition. TRY LAW360 FREE FOR SEVEN DAYS
The US Securities and exchange commission ( SEC ) has urged a federal judge to dismiss a lawsuit challenging the validity of the Financial securities Regulatory Authority ( FINRA ) , stating that matter is not yet ready for a court to look at .