Eversheds Sutherland 11th Circuit Business Blog
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A Private Plaintiff Cannot Sue FINRA for a Violation of Its Own Rules

In Turbeville v. FINRA, 2017 WL 4938821 (11th Cir. Nov. 1, 2017), a panel of the Eleventh Circuit held that a former registered representative’s purported state-law claims against FINRA were properly dismissed because there exists no private right of action against FINRA, a self-regulatory organization (“SRO”), for alleged violations of its own rules. In 2009, FINRA filed an...

When a Settlement Contingent on Vacatur is Grounds for Rule 60(b) Relief from Judgment

On July 12, the Eleventh Circuit reversed the district court’s denial of a Rule 60(b) motion in Hartford Accident & Indemnity Co. v. Crum & Forster Specialty Insurance Co., 2016 WL 3741972 (11th Cir. July 12, 2016), and vacated the underlying summary judgment orders that the parties had jointly sought relief from in the motion.  The parties based their motion for relief from...