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HomeFINRA Fraud Team Must Look in the Mirror
Posted by Larry Doyle on April 16th, 2010 10:14 AM |
A report released yesterday by MarketWatch highlights the fact that the Wall Street self-regulator FINRA is launching a new initiative to target fraud within its purview of the financial industry. This initiative, designated the Office of Fraud Detection and Market Intelligence, will be headed by a longstanding FINRA employee, Cameron Funkhouser. Let’s navigate and offer insightful critique and analysis.
From the MarketWatch report entitled, Wall Street Watchdog Promises to Show More Teeth:
Wall Street’s self-regulatory body that self-admittedly failed to detect 2008’s major financial scandals has a plan to not miss the next one. The Financial Industry Regulatory Authority is touting its new fraud team as the key to spotting another Bernard Madoff. (more…)
