With Domenic Cervoni, Joseph De Simone, S. Christopher Provenzano
On October 5, 2011, the US Court of Appeals for the Second Circuit held in Fiero Brothers v. FINRA, Inc, 09-Civ.-1556; 09-1863 (2d Cir. 2011) that the Financial Industry Regulatory Authority (FINRA) lacks the power to sue to collect the fines it imposes against its members in disciplinary proceedings.