Subscribe: RSS Feed | Twitter | Facebook | Email
Home | Contact Us

Posts Tagged ‘Kara Stein’

SEC Commissioner Stein Tells FINRA To Toughen Up

Posted by Larry Doyle on June 10th, 2014 9:38 AM |

“Speak softly but carry a big stick.”

Real leaders and financial cops very much appreciate that principle. Those playing politics and crony capitalism circa 2014 find it to be anathema.

Why is it that bad practices on Wall Street (e.g high frequency trading, abusive sales practices, market manipulation) are too often tolerated in Washington while costing ordinary Americans untold sums? Very simply, when the punishments do not fit the crimes the practices will perpetuate. The penalties become little more than a cost of doing business. Those ‘writing the tickets’ are little more than meter maids.

Those engaged in regulatory oversight might not appreciate these assertions but these realities are part and parcel of the self-regulatory model on Wall Street. To think otherwise is simply to be willfully blind. SEC commissioner Kara Stein recently told the folks at FINRA to take off their blinders.  (more…)

SEC Commissioner Stein: We Must Better Understand FINRA

Posted by Larry Doyle on February 12th, 2014 6:13 AM |

Who oversees the private, Wall Street funded police detail, aka FINRA, that I have long maintained operates as little more than meter maids?

The SEC, that’s who.

Or at least the SEC is supposed to regulate and oversee FINRA. Whether the SEC effectively oversees an organization which on its face appears to be loaded with conflicts of interest — if not much worse — is the stuff on which books are written.

As a strident critic of both the self-regulator and the self-regulatory model, I have long called for FINRA’s doors and windows to be opened so America can really learn what goes on within this organization and its relationships with the very banks on Wall Street that fund it. Who seems to be joining my call for a serious review of FINRA?  (more…)






Recent Posts


ECONOMIC ALL-STARS


Archives