FINRA is again trying to expand its power and authority over its members. Its earlier attempt to expand its memberhsip rules, to reguire additional and more frequent reporting of routine business activities was severely criticized, and abandoned. But they are back again.
This is NOT going to be good for the industry, and is certainly going to be a significant problem for the 4,000 small firms that are FINRA members. Firms need to pay attention to these proposals, and to spend a few minutes providing comments and feedback on the proposals.
- FINRA Seeks Comments on Proposed Rule on Markups and Commissions
- FINRA Proposes to Tighten Definition of "Public Arbitrator"
- FINRA Fines ING $1.2 Million
- Investing: Control Your Risks
- FINRA Proposes Disclosure of Recruitment Practices
- Reuters - FINRA Takes Steps to Regulate Crowdfunding
- SEC Approves Changes to FINRA Rule on Information & Testimony Requests