expungement

FINRA Cracks Down on Bad Brokers, Small Firms

FINRA Cracks Down on Bad Brokers, Small Firms

Securities industry regulatory body, FINRA (the Financial Industry Regulatory Authority), released its proposal for a rule that would crack down on firms with a high concentration of “bad” brokers. With its latest regulatory notice, FINRA stated that it would increase oversight of brokerages with a “significant history of misconduct,” requiring them to set aside additional funds that cannot be withdrawn without FINRA’s consent.

When Your Broker Departs

When Your Broker Departs

The financial industry self-regulator, FINRA, issued a new regulatory notice today aimed at broker-dealers with departing brokers. The notice was intended to urge broker-dealers to be more clear and forthright with customers about departing brokers and what will happen to the customers’ accounts. If you’ve ever been in the situation where your broker has either left for another firm, left the industry, or passed away, you understand just how confusing things can get when it comes to who will be handling your investments and why.

Warren Wants FINRA to Toughen Broker Expungement Rules

Warren Wants FINRA to Toughen Broker Expungement Rules

Sen. Elizabeth Warren, a Democrat from Massachusetts who recently announced she would be running for president, urged the CEO of the securities industry self-regulator, FINRA, to toughen new rules controlling the expungement of incidents on the permanent records of financial professionals.