Debate over FINRA's licensing proposal heats up

04/18/2011 | InvestmentNews (free registration)

The Financial Industry Regulatory Authority has proposed licensing operations personnel, which many industry insiders and observers oppose. Some say licensing would be an illegal expansion of FINRA's authority. "The proposed rule, as written, appears to exceed FINRA's statutory authority and jurisdictional boundaries," Bari Havlik, chief compliance officer at Charles Schwab, wrote in a letter to the Securities and Exchange Commission.

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