---

Is FINRA a good thing?

• In general, yes.
• FINRA attempts to regulate an industry that’s very difficult to regulate.
• There’s differing views on how hard they try to be perfect or not, however.
• They try to catch and preempt people from committing various types of securities fraud.
• They revoke many Broker licenses every year.
• FINRA’s system oversees thousands of cases won by investors who are defrauded by brokers

“The question is, is FINRA a good thing? I think in general, yes, it’s attempting to regulate an industry that’s very difficult to regulate regarding billions of dollars, millions of people, hundreds of thousands of brokers, and they’re trying to keep some control to minimize the amount that people are ripped off. Is it perfect? Absolutely not. There’s differing views on how hard they try to be perfect or not, but regardless, FINRA would be the first to tell you that they’re not perfect. They try their hardest, they try to catch and preempt people from committing, various types of securities fraud, but the reality is lots of securities fraud goes on. They sanction lots of people every year. They revoke a lot of licenses every year and there are thousands of cases that are brought and won by investors who are defrauded by their brokers through the FINRA system. So it’s certainly a good aspirational thing. I think there are some reforms that could be done that could make it better, but it’s certainly designed to help protect investors.”

The Securities Lawyers practice group at Halling & Cayo, S.C. can help. We take cases all over the country, and we only get paid if we win. Contact us to set up a meeting to review your case.