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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.S. Securities and Exchange Commission (SEC) to discipline registered representatives and member firms that fail to comply with federal securities laws and FINRA's rules and ...
FINRA and the SEC’s Office of Investor Education and Advocacy are issuing this Investor Bulletin to urge you to consider adding a “trusted contact person” to your brokerage account.
A registered representative, also called a general securities representative, a stockbroker, or an account executive, is an individual who is licensed to sell securities and has the legal power of an agent in the United States.
In this list of financial regulatory and supervisory authorities, central banks are only listed where they act as direct supervisors of individual financial firms, and competition authorities and takeover panels are not listed unless they are set up exclusively for financial services.
Financial professionals who recommend clients buy a security or financial product are held to ethical standards that can be enforced by law. One such standard is known as the suitability rule ...
An IA must adhere to a fiduciary standard of care laid out in the US Investment Advisers Act of 1940.This standard requires IAs to act and serve a client's best interests with the intent to eliminate, or at least to expose, all potential conflicts of interest which might incline an investment adviser—consciously or unconsciously—to render advice which was not in the best interest of the IA ...
A self-regulatory organization (SRO) is an organization that exercises some degree of regulatory authority over an industry or profession.The regulatory authority could exist in place of government regulation, or applied in addition to government regulation.
The term Manning rule is the informal name for a financial industry rule in the United States: Financial Industry Regulatory Authority (FINRA) regulation, Rule 5320. It prohibits a FINRA member firm from placing the firm's interest before/above the financial interests of a client.