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- Title
Is FINRA a State Actor? A Question that Exposes the Flaws of the State Action Doctrine and Suggests a Way to Redeem It.
- Authors
Deshmukh, Michael
- Abstract
The article discusses whether the U.S. Financial Industry Regulatory Authority (FINRA) is a state actor as of May 2014, focusing self-regulation, a public function theory, and the reported flaws in America's state action doctrine. According to the article, FINRA is the dominant self-regulatory organization (SRO) in America's securities industry. The U.S. National Association of Securities Dealers, the Fifth Amendment to the nation's Constitution, and the U.S. Supreme Court are examined.
- Subjects
UNITED States; FINANCIAL Industry Regulatory Authority; STATE action doctrine (Antitrust law); SELF regulation; NATIONAL Association of Securities Dealers; STATE action (Civil rights); UNITED States. Supreme Court; SECURITIES industry laws; ASSOCIATIONS, institutions, etc.; LAW
- Publication
Vanderbilt Law Review, 2014, Vol 67, Issue 4, p1173
- ISSN
0042-2533
- Publication type
Article