FINRA Proposal to Increase Personnel Assessments Angers Small Brokers

Steinert-Threlkeld, Tom
October 2009
Securities Industry News;10/5/2009, Vol. 21 Issue 21, p4
Trade Publication
The article presents a discussion of the proposal by the U.S. Financial Industry Regulatory Authority (FINRA) to increase its reliance on assessments against head count and reduce its reliance on assessments against the gross income of its members. The Financial Services Institute, the trade group of independent broker dealers, opposed the FINRA proposal, which they said must be reviewed by the U.S. Securities and Exchange Commission (SEC). The revamp, if approved by the SEC, will take effect on January 1, 2010.


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