FSI opposes FINRA's plan to bolster power

04/18/2010 | InvestmentNews (free registration)

The Financial Industry Regulatory Authority has proposed changes that would give it sweeping powers over the business activities of brokerage firms. FSI responded by sending a comment letter criticizing the proposal. "We have seen throughout the rule-book-consolidation process a common theme of expanding FINRA's jurisdiction beyond the traditional bounds," said FSI General Counsel David Bellaire. "And now we're seeing it again with this [proposal]."

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