The Financial Industry Regulatory Authority said Thursday that it has completed integrating the self-regulator’s enforcement functions, and announced a new senior leadership team to lead the new structure.
The consolidation, which began in July 2017 under FINRA360 along with the promotion of Susan Schroeder as head FINRA’s enforcement unit, contains two new centralized groups — the Office of the Counsel to the Head of Enforcement, and Investigations — which FINRA says are “designed to ensure a more consistent and foreseeable enforcement program.”
“The consolidation of our enforcement functions enables us to better target developing issues that can harm investors and market integrity, and ensure a uniform approach to charging and sanctions,” Schroeder said in a Thursday statement announcing the new structure.
The broker-dealer self-regulator, she continued, has “purposefully chosen this senior leadership team to enhance the consistency of outcomes of our enforcement actions, and to ensure transparency of our enforcement processes. I look forward to working with this talented, dedicated team.”
The Office of the Counsel to the Head of Enforcement centralizes a group of experienced attorneys and staffers to consult on matters referred for enforcement action and was created to “enhance the consistency and transparency of Enforcement investigations and outcomes.”