If ordinary investors sometimes think the deck is stacked against them on Wall Street, a recent court ruling won’t make them feel any better.
On Friday, the U.S. Court of Appeals for the D.C. Circuit held that the U.S. Securities and Exchange Commission doesn’t have to turn over 65 boxes of documents sought by investor advocates concerned about the handling of investor complaints by the Financial Industry Regulatory Authority, Wall Street’s self-regulator. In an 18-page ruling, the panel held that these documents are exempt from requests under the Freedom of Information Act.
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