FINRA to Provide Access to Bulk Data on Firms

The Financial Industry Regulatory Authority (FINRA) has made high-risk brokers a top priority, announcing new proposals that would strengthen controls and require broker/dealers to heighten supervision of potential bad apples. FINRA’s BrokerCheck system allows the public to view an individual broker’s regulatory history. But what about firms that employ a significant number of brokers with bad histories?

The self-regulatory organization has recently changed its policy to allow the public to access bulk data on firms, said FINRA President and CEO Robert Cook, who testified before the U.S. House of Representatives Subcommittee on Capital Markets, Securities and Investment about FINRA’s operations and regulatory programs Thursday.

Source: WealthManagement

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