Subprime issues prompt FINRA to examine broker-dealers

11/13/2007 | Securities Technology Monitor

At SIFMA's annual meeting late last week, Mary Schapiro, CEO of the Financial Industry Regulatory Authority, said the organization was performing targeted examinations on broker-dealers with "large fixed-income and mortgage-backed securities exposure" stemming from the crisis in the subprime-mortgage market. "We are experiencing a cautionary tale," Schapiro said. "It remains to be seen how the macro-economy will be affected by the fallout of what could be an ensuing credit crunch."

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