• The Financial Industry Regulatory Authority (FINRA) develops and enforces rules governing registered brokers and broker-dealers in the United States.

  • FINRA also conducts qualifying examinations for securities specialists.
  • FINRA provides resources such as BrokerCheck to help protect investors.
  • A common criticism of all self-regulatory bodies, including FINRA, is that they do just enough to maintain public confidence.
  • FINRA’s monthly disciplinary action report only covers formal actions and does not include informal actions such as warning letters to firms or individuals.