FINRA
Get the latest news and insights on the Financial Industry Regulatory Authority's rules, enforcement actions and related activities.
FINRA Hits Back in Battle Over Advisor SRO
By Melanie WaddellFINRA is now refuting a review, done by Boston Consulting on behalf of several investment advisory trade groups, that challenged FINRAs cost estimates in assuming an SRO role.
May 22, 2012
Bachus Reintroduces SRO BillHouse Financial Services Chairman Spencer Bachus reintroduced in late April his draft bill calling for a self-regulatory organization (SRO) for advisors.
May 22, 2012
FINRA Fines Citigroup for Inaccurate Mortgage DataFINRA announced Tuesday that it had fined Citigroup Global Markets $3.5 million for providing inaccurate mortgage performance information, supervisory failures and other violations related to mortgage-backed securities.
May 21, 2012
FINRA CEO: BrokerCheck Revamp Won’t Include Test ScoresAt FINRA's annual conference, Richard Ketchum on Monday addressed concerns from brokers and advisors over test scores on the revamped BrokerCheck and other key issues.
May 17, 2012
FINRA Updates BrokerCheck With More Advisor InformationSeveral of the changes implemented by FINRA address recommendations made in a January 2011 study by the SEC.
May 16, 2012
Judge Pushes Schwab Suit Against FINRA to Disciplinary PanelA federal judge dismissed a legal action filed by Charles Schwab against FINRA challenging a complaint FINRA levied against Schwab on Feb. 1.
May 14, 2012
Some Questions—and Answers—on the Spencer Bachus SRO BillSome of the answers: FINRA is the only viable option that has been identified as an SRO and, as Mercer Bullard commented, "the bill would impose a tax on small advisory businesses...and mainstream investors they represent."
May 09, 2012
The Most Effective and Cost-Efficient SRO for Advisors? FINRAFragmented oversight constitutes a serious risk for the Main Street investor; the established SRO is the best way to ameliorate that risk.