Block on Trump's Asylum Ban Upheld by Supreme Court
Investment banker's petition for review of the SEC's affirmance of the New York Stock Exchange's (NYSE) finding that petitioner violated NYSE Rule 476(a)(6) by disclosing a client's confidential information to a third party, the petition is denied where: 1) a violation of the rule did not require bad faith; 2) mere unethical conduct was sufficient for violation of the rule outside the breach of contract context; and 3) summary judgment was appropriate on the issue of petitioner's guilt.
Argued: September 16, 2009
Decided: November 4, 2009
Opinion by Judge Straub
Dominick V. Freda, David M. Becker, Securities and Exchange Commission, Washington, DC