Groups Push FINRA To Bolster Broker Misconduct Rules
Law360 (January 5, 2021, 6:48 PM EST) -- The Financial Industry Regulatory Authority's plans to tighten its grip on brokers with a history of misconduct fall short of truly protecting investors, according to advocacy groups that say the Wall Street regulator needs to make pending rules tougher on so-called restricted firms, in part by publicizing their identities.
The proposed regulations, which are pending approval by the U.S. Securities and Exchange Commission, are the culmination of a yearslong push by industry advocates to enforce stricter rules on brokers with a checkered past. The rules aim to achieve this in part by ramping up costs for the firms employing troubled brokers. ...
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