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Wall Street Regulator Finra Moves to Give Industry Bigger Role
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Wall Street Regulator Finra Moves to Give Industry Bigger Role The Financial Industry Regulatory Authority wants to give the industry it helps regulate a bigger role in its oversight, proposing the first major shakeup in decades to the Wall Street watchdog’s governing board. The move would shift the board’s makeup to a majority of representatives from firms versus non-industry members. The public-member majority structure has been in place since 1996, when the Securities and Exchange...
Wall Street Regulator Finra Moves to Give Industry Bigger Role
The Financial Industry Regulatory Authority wants to give the industry it helps regulate a bigger role in its oversight, proposing the first major shakeup in decades to the Wall Street watchdog’s governing board.
The move would shift the board’s makeup to a majority of representatives from firms versus non-industry members. The public-member majority structure has been in place since 1996, when the Securities and Exchange Commission required Finra’s predecessor to implement reforms to prevent potential conflicts of interest and address enforcement issues.