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HIGH NOON for FINRA.

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  • Author(s): KLEBNIKOV, SERGEI (AUTHOR); SCHIFRIN, MATT (AUTHOR)
  • Source:
    Forbes. Oct/Nov2024, Vol. 207 Issue 5, p132-140. 7p. 1 Chart, 1 Cartoon or Caricature.
  • Additional Information
    • Subject Terms:
      Business planning; United States. Securities & Exchange Commission; Interest rates; Financial markets; Stockbrokers; Clearing of securities; Securities fraud
    • Abstract:
      The article explores the ongoing legal dispute between the Financial Industry Regulatory Authority (FINRA) and two securities firms, Alpine Securities and Scottsdale Capital Advisors, owned by John Joseph Hurry. Hurry is challenging FINRA's authority, arguing that it lacks transparency and accountability. The case has reached the U.S. Court of Appeals, with the potential for further appeal to the Supreme Court. The article also highlights Hurry's past securities violations and questionable business practices. It delves into the controversies surrounding Hurry, including allegations of draining customer accounts for personal gain and lawsuits with media organizations. The future of his business remains uncertain, raising concerns about the integrity of self-regulatory organizations like FINRA. [Extracted from the article]
    • Abstract:
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