Nasdaq Beats Tech Group's Data Fees Suit In DC Circ.

Law360, New York (April 30, 2013, 3:19 PM EDT) -- The D.C. Circuit on Tuesday denied relief to a group of tech companies that claimed market data fees charged by Nasdaq and other stock exchanges were exorbitant, finding it did not have the authority to review whether the U.S. Securities and Exchange Commission properly failed to suspend the fees.

A three-judge panel agreed with Nasdaq, Nasdaq OMX PHLX LLC and NYSE Arca Inc. that Congress had withdrawn its jurisdiction over changes in market data fee rules by passing the Dodd-Frank Act, leaving the SEC with exclusive...
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