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Posts Tagged ‘SEC relationship with FINRA’

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…)






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