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FINRA Launches Regulatory Operations

Law360 (July 30, 2007, 12:00 AM EDT) -- The Financial Industry Regulatory Authority, the new self-regulatory organization for U.S. securities brokers and dealers, opened for business Monday, promising to streamline oversight of public companies.

FINRA, the long-awaited consolidation of the regulatory bodies from the National Association of Securities Dealers Inc. and NYSE Group Inc., will now oversee more than 5,000 securities firms and 666,000 registered brokers and dealers, making it the largest nongovernmental securities industry regulator.

In addition to taking over the functions of the NASD and NYSE regulators, FINRA will also conduct firm...
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