The Financial Industry Regulatory Authority plans to ask broker-dealers to weigh in on what changes need to be made to the self-regulator’s engagement and transparency policies — including how it crafts rules.
“I believe that while we do a lot today, we have an opportunity to take a fresh look at whether we can improve our engagement and transparency,” FINRA CEO Robert Cook said during a recent speech at The Harvard Club in New York.
Fresh off a “listening tour” that Cook says he’s been on since being named CEO last June, Cook said the notice, to be issued in the coming weeks, will summarize what FINRA does “now in these areas” and will request comments on “what we should be doing.”
Feedback he’s gotten from his listening tour, Cook said, “indicates to me that we may need to do more, or do it differently.”
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A simple example, he said, is that he’s been told that FINRA “should publicly announce our board meetings and agendas in advance of these meetings.”
While FINRA currently provides this information on its website, he noticed “the information was there but difficult to find. We need to change that.”