FINRA Political Contribution Lawsuit Against SEC Transferred To D.C. Circuit

Mealey's (April 27, 2018, 2:17 PM EDT) -- ATLANTA — The Georgia Republican Party (GRP) lacks standing to challenge the Securities and Exchange Commission’s enactment of a rule limiting the ability Financial Industry Regulatory Authority (FINRA) members to make political contributions to government officials they solicitate for investment advisory services contracts because the GRP is not a placement agent that would be effected by the rule, an 11th Circuit U.S. Court of Appeals panel ruled April 26 in dismissing the GRP from the action and transferring it to the District of Columbia Circuit U.S. Court of Appeals (Georgia Republican Party v. SEC, No. 16-16623, 11th Cir., 2018 U.S. App. LEXIS 10645)....