Congressman intends to hold Finra’s feet to the fire on how SRO spends fine money

September 8, 2017 by Mark Schoeff Jr.

A lawmaker who called on Finra to be more transparent about what it does with fine proceeds intends to keep the pressure on the broker regulator — even to the point of introducing legislation.

“We will continue to ask Finra to provide a report to Congress on how it spends its fine money,” Rep. Brad Sherman, D-Calif., said in a statement to InvestmentNews on Friday through his spokesman, Shane Seaver. “In the future, we may consider legislation on this issue.”

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Originally Posted at InvestmentNews on September 8, 2017 by Mark Schoeff Jr..