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An Overview Of Brokercheck And The Central Registration Depository, Christine Lazaro, Albert Copeland
An Overview Of Brokercheck And The Central Registration Depository, Christine Lazaro, Albert Copeland
Faculty Publications
(Excerpt)
Securities brokers are governed by a unique regulatory framework, subject to both extensive state and federal statutory and regulatory regimes. The vast bulk of federal regulation and oversight of brokers and brokerage firms has been delegated to the Financial Industry Regulatory Authority (“FINRA”), a self-regulatory organization with the power to govern its members’ conduct. FINRA operates under the oversight of the Securities and Exchange Commission (the “SEC”), a federal agency established by the federal securities laws.
FINRA was created on July 26, 2007 through the consolidation of the National Association of Securities Dealers (“NASD”) and the member regulation, enforcement …