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A Practitioner's Guide to FINRA Sanctions Analysis

A Practitioner's Guide to FINRA Sanctions Analysis

Author: Rory C. Flynn
Publisher: American Bar Association
ISBN: 9781627229746
Published In: July 2015
Format: Paperback , 188 pages
Jurisdiction: U.S. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Gain a comprehensive overview and practical advice regarding one segment of FINRA’s disciplinary process—sanctions analysis. This book contains the historical development of various FINRA sanctions, limitations on FINRA’s ability to impose certain sanctions, and much more. A unique resource on securities regulation for the new and experienced practitioner.

The Financial Industry Regulatory Authority, Inc. (FINRA) is the largest, independent regulator of securities firms doing business in the United States, and part of the Securities Exchange Act of 1934’s interrelated and comprehensive system for regulating the securities markets. This book gives a comprehensive overview and practical advice to lawyers regarding one segment of FINRA’s disciplinary process—sanctions analysis.

Every year, FINRA files more disciplinary proceedings for securities violations than the SEC, the U.S. Department of Justice, and all other self-regulatory organizations combined. Though many are straightforward, others involve issues as complex as any pursued elsewhere due to the association’s expertise and knowledge of the industry. Though the issues FINRA confronts change rapidly with market developments, its disciplinary process for the most part remains constant.

A Practitioner’s Guide to FINRA Sanctions Analysis contains:
> Practical, in-depth knowledge any practitioner in front of FINRA should know and can immediately use;
> The historical development of various FINRA sanctions, with the purpose of understanding the basis for those sanctions;
> Limitations on FINRA’s ability to impose certain sanctions; and
> Much more!

The book assumes a panel held a hearing, found liability, and is assessing sanctions. However, the same analysis may be used during settlement negotiations to determine what sanctions might realistically be imposed and enforced. A Practitioner’s Guide to FINRA Sanctions Analysis offers a unique perspective both to experienced attorneys and attorneys new to the practice of securities regulation.

After serving for more than a decade as an Assistant Chief Litigation Counsel with the SEC’s Division of Enforcement, Mr. Flynn was Chief Litigation Counsel for FINRA’s (and its predecessor NASD’s) Department of Enforcement for thirteen years. He later served as Associate General Counsel with the SEC’s Office of the General Counsel, heading its Adjudication practice group. Adjudication advises and assists the Commission in drafting its opinions in appeals from disciplinary decisions issued by administrative law judges, self-regulatory organizations (of which there are more than thirty, with FINRA being the largest), and the Public Company Accounting Oversight Board (the independent oversight body created by the Sarbanes-Oxley Act of 2002 to replace the accounting profession’s system of self regulation).

Mr. Flynn received his J.D. from the Benjamin N. Cardozo School of Law, Yeshiva University and his LL.M. in Securities & Financial Regulation from Georgetown University Law Center, where he later returned to teach. The views expressed here are his. They do not necessarily reflect those of the SEC, FINRA, or their staff s.