A federal judge ruled on Thursday that U.S. securities regulators do not need to publicly release records of their oversight of the Financial Industry Regulatory Authority, a brokerage industry self-policing body. The decision by U.S. District Judge Beryl Howell was a blow to the Public Investors Arbitration Bar Association (PIABA), a group of lawyers that represent investors in securities arbitration cases. The bar association had sued the U.S. Securities and Exchange Commission after the agency denied a February 2010 request under the Freedom of Information Act to produce certain FINRA-related records. The group is reviewing the decision and considering its options, Scott Ilgenfritz, PIABA's president, said in a statement. FINRA, which is overseen by the SEC, conducts routine inspections of brokerages, brings enforcement actions against violators and administers arbitrations to resolve disputes between brokerages and investors. The SEC, in turn, routinely examines FINRA to
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