Brokers support Finra ranking of reps to identify bad apples as long as list stays private

October 17, 2017 by Mark Schoeff Jr.

Brokers and securities compliance experts support Finra’s effort to rank registered representatives and target those it believes pose the biggest threat to investors — as long as the broker-dealer regulator keeps the list to itself.

Susan Axelrod, Finra executive vice president for regulatory operations, said Monday that the Financial Industry Regulatory Authority Inc. has ranked all 634,403 brokers that it oversees. The list is compiled based on a broker’s prior regulatory disclosures, disciplinary actions and employment history.

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Originally Posted at InvestmentNews on October 17, 2017 by Mark Schoeff Jr..