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Written by 10:29 pm Publications

Investment News: SIFMA, FINRA Clash Over Deadbeat Brokers

The Securities Industry and Financial Markets Association wants Finra to crack down on deadbeat brokers who have failed to pay back promissory notes…

The Securities Industry and Financial Markets Association wants Finra to crack down on deadbeat brokers who have failed to pay back promissory notes.

Specifically, the trade group wants the Financial Industry Regulatory Authority Inc. to change its rules so that brokers can’t plead poverty to get out of an arbitration repayment order.

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Last modified: July 17, 2015