U.S. revamp of rules for securities professionals hits snags

11/18/2012 | Reuters

An undertaking to simplify licensing for securities professionals is about 80% complete, but the remaining 20% is producing hard-to-resolve hang-ups, according to Robert Colby, chief legal officer for the Financial Industry Regulatory Authority. The attempt to refine and combine the separate rules of FINRA's predecessor organizations, the National Association of Securities Dealers and the New York Stock Exchange's member and enforcement functions, has dragged on for five years.

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