DC Circ. Lifts Stay On Fed's Pay Rule Change

Law360, New York (April 7, 2011, 5:58 PM EDT) -- The D.C. Circuit lifted an administrative stay Tuesday that briefly prevented the Federal Reserve from barring brokerages from paying officers on commission, allowing the regulation to take effect just days after its planned April 1 start date.

A three-judge panel of the U.S. Court of Appeals for the District of Columbia Circuit said the plaintiffs — a pair of trade groups representing mortgage groups — had failed to meet "the stringent standards required for a stay pending appeal." The court, which imposed the stay March 31,...
To view the full article, register now.