The Financial Industry Regulatory Authority (FINRA) is the largest of the Self-Regulatory Organizations (SROs), the quasi-governmental organizations supervised by the Securities and Exchange Commission (SEC) and authorized by the Securities Exchange Act to regulate their own member organizations and individuals. For FINRA, this means securities brokers and dealers. In carrying out the many mandates and regulatory compliance provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act), FINRA will have to expand its legal, compliance, dispute resolution and investor education staffs.
This is without a doubt the best time in history to be thinking about an attorney or law-related position with one of the Self-Regulatory Organizations (SROs), the entities supervised by the Securities and Exchange Commission (SEC) that are authorized to regulate their member organizations and individuals. A significant portion of the new and expanded authorities contained in the financial regulatory reform legislation (Dodd-Frank Wall Street Reform and Consumer Protection Act) enacted this summer will be implemented by the SROs.
Conflicted: Part Four – Saving Consumers from Scofflaws, Scoundrels and Sleazebags…and From Themselves
The Consumer Product Safety Commission (CPSC) is back. After almost a decade of hunkering down, hibernating, and hiding from its responsibilities to protect the public, the CPSC has been reinvigorated and is out there, active and proactive once again.