{"id":4506,"date":"2007-10-08T18:34:15","date_gmt":"2007-10-08T18:34:15","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/10\/new_primary_regulator_of_secur"},"modified":"2021-09-20T15:41:42","modified_gmt":"2021-09-20T20:41:42","slug":"new-primary-regulator-of-secur","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/new-primary-regulator-of-secur\/","title":{"rendered":"New Primary Regulator of Securities Brokerage Firms Is Run Only By Brokerage Firms"},"content":{"rendered":"

\t\t\t\tThe National Association of Securities Dealers (NASD) recently absorbed the regulatory unit of the New York Stock Exchange (NYSE) and changed its name to the Financial Industry Regulatory Authority (FINRA). Yet nothing has really changed. The primary regulator of securities brokerage firms industry is run solely by \u2026 brokerage firms. <\/p>\n

There are a number of industry associations which oversee that industry. Yet, no other has the power of the FINRA. The Securities and Exchange Commission (SEC) is charged with the responsibility of policing the securities industry. (The last SEC commissioner appointed by a Democrat left this week leaving only Republican appointees and the Director is a former Republican Congressman, but that is another story.) <\/p>\n

In any event, the SEC, the nation’s securities police force, delegates to the securities industry the power to police itself. There is now only FINRA, the rent-a-cop group in charge of that duty. FINRA is run by seven directors. Almost unbelievably, all of the directors of FINRA are representatives of brokerage firms. None are “public” directors. <\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The National Association of Securities Dealers (NASD) recently absorbed the regulatory unit of the New York Stock Exchange (NYSE) and changed its name to the Financial Industry Regulatory Authority (FINRA). Yet nothing has really changed. The primary regulator of securities brokerage firms industry is run solely by \u2026 brokerage firms. There are a number of […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3739],"tags":[],"class_list":["post-4506","post","type-post","status-publish","format-standard","hentry","category-finra"],"yoast_head":"\nNew Primary Regulator of Securities Brokerage Firms Is Run Only By Brokerage Firms — Investor Lawyers Blog — October 8, 2007<\/title>\n<meta name=\"description\" content=\"The National Association of Securities Dealers (NASD) recently absorbed the regulatory unit of the New York Stock Exchange (NYSE) and changed its name to — October 8, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/new-primary-regulator-of-secur\/\" \/>\n<meta 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