FINRA Plans New Rules for Bad Brokers

March 26, 2019 by Melanie Waddell

The Financial Industry Regulatory Authority plans to request feedback via a Regulatory Notice soon on new rules related to broker-dealers with a disproportionately high number of regulatory disclosure events by the firm and/or its registered reps.

Susan Wolburgh Jenah, a member of FINRA’s regulatory policy committee, said in a video taken at the March 13 FINRA board meeting that the committee and FINRA’s board have been discussing over the last few quarters “the issue of how to deal with those firms that have a disproportionately higher number of risk events and disciplinary events on their record.”

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Originally Posted at ThinkAdvisor on March 19, 2019 by Melanie Waddell.