The U.S. Securities and Exchange Commission does not have to release records about its supervision of Wall Street's arbitration process to a group of investors' lawyers, a federal appeals court ruled on Friday.
The decision by the U.S. Court of Appeals for the District of Columbia Circuit ends, at least for now, a long-running battle about the public's right of access to documents about the SEC's oversight over the Financial Industry Regulatory Authority's arbitration system.
FINRA, the Wall Street industry-funded watchdog, runs the arbitration forum where investors and brokerages must resolve their legal disputes. The SEC oversees and examines FINRA, which is a private organization. Continue>>>