Fixing Finra: SRO's Incoming CEO Will Have Work Cut Out

Curtis, Carol E.
February 2009
Securities Industry News;2/2/2009, Vol. 21 Issue 3, p4
Trade Publication
The author offers her views about the alleged fraud at Bernard L. Madoff Investment Securities. She notes that U.S. Financial Industry Regulatory Authority (Finra) are worried that the fraud has exposed major gaps in the system of broker-dealer self-regulation. She mentions the comment made by Christopher Dodd, chairman of the Senate Banking Committee, that the fraud is a regulatory failure of historic proportions. The author believes that the whoever will lead Finra will have to face challenges in preventing similar occurrences in the future.


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