2nd Circ. Sends Back Tiff Over NASD-NYSE Merger

Law360, New York (March 18, 2009, 12:00 AM EDT) -- A circuit court has thrown out an investment firm's appeal in a long-running dispute over the merger of the National Association of Securities Dealers Inc. and NYSE Group Inc.’s regulatory bodies — a merger that created the Financial Industry Regulatory Authority Inc. — ruling the challenge moot and sending the case back to a lower court.

The U.S. Court of Appeals for the Second Circuit ruled Wednesday it would not decide whether Standard Investment Chartered Inc. had exhausted its administrative remedies in challenging the already consummated...
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