Excerpt:
The private securities industry regulator FINRA is getting help from the U.S. Justice Department as it tries to ward off what it acknowledges to be an “existential threat” to its authority to police U.S. brokers and dealers. Both FINRA, which is formally known as The Financial Industry Regulatory Authority, and the DOJ filed briefs last week at the District of Columbia U.S. Circuit Court of Appeals, arguing that FINRA’s private regulation of the securities industry breaches neither the U.S. [...]