FINRA Seeks New Rules For 'Back Office' Staffers

Law360, New York (May 26, 2010, 5:12 PM EDT) -- The U.S. Financial Industry Regulatory Authority is proposing to extend its oversight of broker-dealers to include “back office” professionals who offer sales and trading support and deal with investor assets.

The self-regulatory organization issued a notice Wednesday seeking comments on a rule proposal that would enable the agency to keep a closer watch of back-office operations by expanding registration requirements. The agency’s current registration rules only apply to individuals, such as brokers, investment bankers and traders, who provide advice to investors and effect securities transactions....
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