3rd Circ. Lets SEC Ruling On PHLX Bylaw Stand
Equity trader PennMont Securities filed the appeal after the SEC nixed its request to review disciplinary sanctions brought against the trader under PHLX Rule 651 over $925,612 in unpaid legal fees arising from a separate lawsuit.
PHLX Rule 651 stipulates that any PHLX member that sues the stock exchange and fails to prevail must pay its legal...
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