FINRA Probe Nixes Overpayment, Other Claims

Law360, New York (October 5, 2010, 8:01 PM EDT) -- An internal probe of the Financial Industry Regulatory Authority has concluded that the Wall Street watchdog has neither improperly managed its investments over the past few years nor provided its senior management with excessive compensation.

The report FINRA released Tuesday — the product of a seven-month investigation — specifically rejected claims that FINRA had provided “grossly excessive” and unjustified compensation to top executives from 2007 to 2009.

Instead the probe found that compensation decisions for senior executives were made by an independent and disinterested compensation committee...
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