SEC Had Authority To Adopt Political Campaign Rule, Divided D.C. Circuit Rules

Mealey's (June 19, 2019, 2:14 PM EDT) -- WASHINGTON, D.C. — In  a divided opinion, a District of Columbia Circuit U.S. Court of Appeals panel on June 18 ruled that although the New York Republican State Committee (NYGOP) has standing to challenge a Securities and Exchange Commission order regulating the political contributions of members of the Financial Industry Regulatory Authority (FINRA), the SEC “acted within its authority” in adopting the rule (New York Republican State Committee, et al. v. Securities and Exchange Commission, No. 18-1111, D.C. Cir., 2019 U.S. App. LEXIS 18187)....