FINRA Plans New Power Grab as SEC Falters
Posted by William Byrnes on August 2, 2011
FINRA is continuing its recent power-grab in the face of a largely impotent and underfunded Securities and Exchange Commission. As the next stage in an increasing series of regulations and information reporting requirements, plans are in the works for a new-and-improved examination program that could further increase the information reporting requirements of member firms and significantly increase their compliance burden.
Read this complete analysis of the impact at AdvisorFX (sign up for a free trial subscription with full access to all of the planning libraries and client presentations if you are not already a subscriber).
For previous coverage of FINRA regulatory action in Advisor’s Journal, see Broker Bonus Arbitration Bottleneck Forces FINRA to Reconsider Arbitrator Qualification Standards (CC 11-08), SEC Approves FINRA Suitability and Know-Your-Customer Rules (CC 11-17), & New FINRA Rule Restricts Brokers’ Outside Business Activities (CC 10-110).
This entry was posted on August 2, 2011 at 06:00 and is filed under Wealth Management. Tagged: Arbitration, Business, Financial Industry Regulatory Authority, law, Mary Schapiro, Registered Investment Advisor, Securities and Exchange Commission, U.S. Securities and Exchange Commission. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.