Please help improve it or discuss these issues on the talk forex broker ranking 2014. This article has been nominated to be checked for its neutrality. Discussion of this nomination can be found on the talk page. In the United States, the Financial Industry Regulatory Authority, Inc.
FINRA is the successor to the National Association of Securities Dealers, Inc. The Financial Industry Regulatory Authority is the largest independent regulator for all securities firms doing business in the United States. FINRA’s mission is to protect investors by making sure the United States securities industry operates fairly and honestly. FINRA oversees about 4,250 brokerage firms, about 162,155 branch offices and approximately 629,525 registered securities representatives. FINRA has approximately 3,400 employees and operates from Washington, DC, and New York, NY, with 20 regional offices around the country. FINRA offers regulatory oversight over all securities firms that do business with the public, plus those offering professional training, testing, and licensing of registered persons, arbitration and mediation, market regulation by contract for the New York Stock Exchange, the NASDAQ Stock Market, Inc.
FINRA was formed by a consolidation of the member regulation, enforcement and arbitration operations of the New York Stock Exchange, NYSE Regulation, Inc. The NASD was founded in 1939 and was registered with the SEC in response to the 1938 Maloney Act amendments to the Securities Exchange Act of 1934, which allowed it to supervise the conduct of its members subject to the oversight of the SEC. Insurance Affiliate Governor, an Investment Company Affiliate Governor, three Small Firm Governors, one Mid-Size Firm Governor, and three Large-Firm Governors. FINRA regulates trading in equities, corporate bonds, securities futures, and options. As part of its regulatory authority FINRA periodically conducts regulatory exams of its regulated institutions. FINRA recently released its tenth annual Regulatory and Examinations Priorities Letter for 2015, which impacts broker-dealers as well as their affiliated insurance companies and banks.
FINRA licenses individuals and admits firms to the industry, writes rules to govern their behavior, examines them for regulatory compliance, and is sanctioned by the U. It provides education and qualification examinations to industry professionals. In 2006, NASD demutualized from NASDAQ by selling its ownership interest. The NASD, now FINRA, publishes much educational information for the public and has been publishing and disclosing the education and exam requirements for USA based credentials, charters, designations and certifications that are offered by SROs for about a decade. FINRA is funded primarily by assessments of member firms’ registered representatives and applicants, annual fees paid by members, and by fines that it levies.