Regulation & Compliance

President-elect Donald Trump is expected to make a pick in the coming days, and no decisions have been made.

The regulator said the ruling in the case concerning Utah-based brokerage Alpine Securities won’t affect day-to-day operations. However, those closely watching the case believe it could challenge FINRA’s legal foundation.

The SEC sued Leech, alleging he allocated trades hours after executing them, often waiting until the end of the trading day or afterward.

According to the commission, James David Burleson’s scheme caused over $3 million in losses for his clients and a 26.5% positive return for himself. The SEC argues the probability that divergence occurred by chance was “less than one in a million.”

Kenneth Welsh pleaded to five wire fraud counts that carry a maximum penalty of 20 years in prison each.

Kaival Patel was previously convicted of charges stemming from a plan to collect commissions on falsely prescribed compound medications, according to the Justice Department.

Clayton has no experience as a federal prosecutor. Since leaving government at the end of Trump’s first administration, he has served as Apollo Global Management Inc.’s independent chair and returned to New York-based law firm Sullivan & Cromwell...