Alpine Loses Bid to Halt Clearing Group Disciplinary Action (1)

Alpine Securities Corp. isn’t entitled to a court order preserving the status quo in disciplinary proceedings by the National Securities Clearing Corp. while it challenges the private regulator’s authority, a federal court ruled.

Alpine is appealing the ruling and filed an emergency request Monday to stop the NSCC’s underlying proceeding during the course of the appeal.

The suit resembles Alpine’s constitutional challenge to another enforcement action brought by a different self-regulatory organization, the Financial Industry Regulatory Authority. That case was argued to a federal appeals court in February.

Alpine isn’t likely to succeed on the merits of its claims that ...