If you’re an investor, you’ve likely heard of FINRA. But you may not know much about it or what it does.
The Financial Industry Regulatory Authority, also known as FINRA, is the largest independent regulator for securities firms doing business in the United States. FINRA oversees over 4,000 brokerage firms and approximately 629,980 registered securities representatives. FINRA has approximately 3,440 employees with offices around the country. FINRA’s mission is to protect all United States investors, from first-time investors to experienced investors.
To that end, FINRA works to ensure that:
- Anyone who sells a securities product has been officially tested, qualified, and licensed;
- Every securities product advertisement is truthful and not misleading;
- Any securities product promoted or sold to an investor is suitable for that investor’s needs; and
- Investors receive complete disclosure about investment products before purchasing them.
FINRA carries out its mission by registering and educating industry participants, writing and enforcing rules and federal securities laws, educating the investing public, and administering a dispute resolution forum for investors and registered firms. FINRA can fine, suspend, or expel firms or individual brokers and can require wrongdoers to return money to investors who have been harmed.
If you feel as though your broker has engaged in unprofessional or dishonest practices and you would like to discuss your concerns with a securities litigation lawyer, call Dallas securities fraud litigation attorney Mazin A. Sbaiti at 214-432-2899 or fill out an online contact form. He handles cases for clients across the United States.