What is the difference between the SEC and FINRA?

What is the difference between the SEC and FINRA?

FINRA is a self-regulatory organization (SRO) that operates under the SEC, which is a federal government agency. While both agencies protect investors, FINRA primarily regulates broker-dealers and their agents, while the SEC has broad authority over securities markets.

Who is the head of FINRA?

Robert W. Cook
Robert W. Cook is President and CEO of FINRA, and Chairman of the FINRA Investor Education Foundation.

Who enforces FINRA?

The Securities and Exchange Commission (SEC)
The Securities and Exchange Commission (SEC) is a government organization that is meant to protect investors and ensure the integrity of the securities market. The SEC oversees FINRA and acts as the first level of appeal for actions brought by FINRA.

What rules does FINRA enforce?

We act quickly to identify misconduct, stop fraud and prevent losses, obtain restitution for harmed investors and remove bad actors from the brokerage industry.

What is FINRA and SIPC?

WASHINGTON – The Securities Investor Protection Corporation (SIPC) and the Financial Industry Regulatory Authority (FINRA) have announced a services agreement designed to ease reporting burdens and compliance costs for member firms.

Is FINRA a private company?

The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Association of Securities Dealers, Inc.

Who is the FINRA ombudsman?

As the new Ombudsman effective Oct. 4, Gill will handle issues, inquiries and complaints that arise from FINRA’s interactions with public investors, member firms, member firm employees, FINRA staff and other stakeholders. She succeeds Foster in the role.

What does FINRA enforcement do?

FINRA Enforcement investigates potential securities violations and, when appropriate, brings formal disciplinary actions against firms and their associated persons. Sanctions include restitution, fines, suspensions, and in cases of serious misconduct, bars from the brokerage industry. Learn more.

Is FINRA a law Enforcement?

FINRA Enforcement works on the front lines of investor protection. FINRA Enforcement works on the front lines of investor protection.

Does FINRA regulate NYSE?

(NASD) as well as the member regulation, enforcement, and arbitration operations of the New York Stock Exchange….Financial Industry Regulatory Authority.

What does it mean to be FINRA registered?

You must be registered with FINRA if you’re engaged in the securities business of your firm, which includes salespersons, branch managers, department supervisors, partners, officers and directors. You are required to pass qualification exams to demonstrate competence in your particular securities activities.

How do I know if I am registered with FINRA?

To view your record please log in to the Financial Professional Gateway or register to create your Financial Professional Gateway account. Please contact the FINRA Gateway Call Center at (240) 386-4040 if you have any questions or require additional assistance.