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FINRA
The Financial Industry Regulatory Authority (FINRA) is a private American corporation that acts as a self-regulatory organization (SRO) that regulates member brokerage firms and exchange markets. FINRA is the successor to the National Association of Securities Dealers, Inc. (NASD) as well as the member regulation, enforcement, and arbitration operations of the New York Stock Exchange. The U.S. government agency that acts as the ultimate regulator of the U.S. securities industry, including FINRA, is the U.S. Securities and Exchange Commission (SEC). Overview The Financial Industry Regulatory Authority is the largest independent regulator for all securities firms doing business in the United States. FINRA's mission is to protect investors by making sure the United States securities industry operates fairly and honestly. In December 2019, FINRA oversaw 3,517 brokerage firms, 153,907 branch offices and approximately 624,674 registered securities representatives. FINRA has appr ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities Market Participants (United States)
Securities market participants in the United States include corporations and governments issuing securities, persons and corporations buying and selling a security, the broker-dealers and exchanges which facilitate such trading, banks which safe keep assets, and regulators who monitor the markets' activities. Investors buy and sell through broker-dealers and have their assets retained by either their executing broker-dealer, a custodian bank or a prime broker. These transactions take place in the environment of equity and equity options exchanges, regulated by the U.S. Securities and Exchange Commission (SEC), or derivative exchanges, regulated by the Commodity Futures Trading Commission (CFTC). For transactions involving stocks and bonds, transfer agents assure that the ownership in each transaction is properly assigned to and held on behalf of each investor. Supporting these transactions, there are three central securities depositories and four clearing organizations that assur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities Regulation In The United States
Securities regulation in the United States is the field of U.S. law that covers transactions and other dealings with securities. The term is usually understood to include both federal and state-level regulation by governmental regulatory agencies, but sometimes may also encompass listing requirements of exchanges like the New York Stock Exchange and rules of self-regulatory organizations like the Financial Industry Regulatory Authority (FINRA). On the federal level, the primary securities regulator is the Securities and Exchange Commission (SEC). Futures and some aspects of derivatives are regulated by the Commodity Futures Trading Commission (CFTC). Understanding and complying with security regulation helps businesses avoid litigation with the SEC, state security commissioners, and private parties. Failing to comply can even result in criminal liability.Steinberg, Marc (2009). ''Understanding Securities Law''. LEXISNEXIS. . Overview The SEC was created by the Securities Exchang ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Eileen Murray
Eileen Murray (born 1958) is an American financial services executive and is the former co-CEO at Bridgewater Associates, one of the world's largest institutional asset managers. Murray has also held executive positions at Morgan Stanley, Credit Suisse First Boston, Duff Capital Advisors and Investment Risk Management. She was named one of the 25 Most Powerful Non-Bank Women in Banking, by '' U.S. Banker'', for the years 2007 and 2008. Early life and education Murray was born to Irish-American parents and raised in public housing in Inwood, Manhattan. As a high school student, she worked at a Grand Union. Shortly after she found the body of neighbor dead from a gunshot wound to the head in the lobby of her building, the family moved to Riverdale, Bronx. Murray graduated from Manhattan College in 1980 with a Bachelor of Science in accounting. Career Murray joined Morgan Stanley in 1984 as a senior analyst in the controller's office. She was promoted to the positions of vice presi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
American Academy Of Financial Management
The American Academy of Financial Management (AAFM) was a US-based board of standards, certifying body, and accreditation council focused on the finance sector and wealth management professionals.. AAFM was superseded by the Global Academy of Finance and Management. History The AAFM was founded in 1996 through a merger of the American Academy of Financial Management & Analysts (AAFMA) and the Founders Advisory Committee of the Original Tax and Estate Planning Law Review. In January 2015, the AAFM sold its intellectual property to the Global Academy of Finance & Management – the logo for which is the same as that of the AAFM with different letters – and the International Board of Certification Standards, which now awards the AAFM's certifications in the United States. The AAFM offered multiple professional membership, certifications, and designations. Members had to have come through one of the AAFM-recognized university programs or through a government-recognized e ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities And Exchange Commission
The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government, created in the aftermath of the Wall Street Crash of 1929. The primary purpose of the SEC is to enforce the law against market manipulation. In addition to the Securities Exchange Act of 1934, which created it, the SEC enforces the Securities Act of 1933, the Trust Indenture Act of 1939, the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Sarbanes–Oxley Act of 2002, and other statutes. The SEC was created by Section 4 of the Securities Exchange Act of 1934 (now codified as and commonly referred to as the Exchange Act or the 1934 Act). Overview The SEC has a three-part mission: to protect investors; maintain fair, orderly, and efficient markets; and facilitate capital formation. To achieve its mandate, the SEC enforces the statutory requirement that public companies and other regulated companies submit quarterly and annual re ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Securities Investor Protection Corporation
The Securities Investor Protection Corporation (SIPC ) is a federally mandated, non-profit, member-funded, United States corporation created under the Securities Investor Protection Act (SIPA) of 1970 that mandates membership of most US-registered broker-dealers. Although created by federal legislation and overseen by the Securities and Exchange Commission, the SIPC is neither a government agency nor a regulator of broker-dealers. The purpose of the SIPC is to expedite the recovery and return of missing customer cash and assets during the liquidation of a failed investment firm. History Enactment In response to the near collapse of the financial markets in 1970, Congress chose to enact legislation that could prevent an escalation of brokerage firm insolvencies and help stabilize the financial markets. In December 1970, Senator Edmund Muskie pushed forward a bill to create a Federal Broker Dealer Insurance Corporation. A compromise with the House resulted in the SIPA, which ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Municipal Securities Rulemaking Board
The Municipal Securities Rulemaking Board (MSRB) writes investor protection rules and other rules regulating broker-dealers and banks in the United States municipal securities market, including tax-exempt and taxable municipal bonds, municipal notes, and other securities issued by states, cities, and counties or their agencies to help finance public projects or for other public policy purposes. Operations Like the Financial Industry Regulatory Authority (FINRA), the MSRB is a self-regulatory organization that is subject to oversight by the Securities and Exchange Commission (SEC). The MSRB is authorized to create rules designed "to prevent fraudulent and manipulative acts and practices, to promote just and equitable principles of trade, to foster cooperation and coordination with persons engaged in regulating, clearing, settling, and processing information with respect to, and facilitating transactions in municipal securities, to remove impediments to and perfect the mechanism ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Alternative Display Facility
Alternative display facility (ADF) is an equity trading facility created in the United States by the Financial Industry Regulatory Authority (FINRA), a self-regulatory organization (SRO). The ADF is an alternative to the exchange for publishing quotations and for comparing and reporting trades. This differs from a trading facility with execution capabilities (stock exchange A stock exchange, securities exchange, or bourse is an exchange where stockbrokers and traders can buy and sell securities, such as shares of stock, bonds and other financial instruments. Stock exchanges may also provide facilities for th ...) in that the exchange would simply send back to the owner of the displayed order a notice of execution. FINRA has operated an ADF since July 29, 2002. References Stock exchanges in the United States Stock market {{Stockexchange-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Self-regulatory Organization
A self-regulatory organization (SRO) is an organization that exercises some degree of regulatory authority over an industry or profession. The regulatory authority could exist in place of government regulation, or applied in addition to government regulation. The ability of an SRO to exercise regulatory authority does not necessarily derive from a grant of authority from the government. United States In United States securities law, a self-regulatory organization is a defined term. The principal federal regulatory authority—the Securities and Exchange Commission (SEC)—was established by the Federal Securities Exchange Act of 1934. The SEC originally delegated authority to the National Association of Securities Dealers (NASD, now Financial Industry Regulatory Authority (FINRA)) and to the national stock exchanges (e.g., the NYSE) to enforce certain industry standards and requirements related to securities trading and brokerage. On July 26, 2007 the SEC approved a merger ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
NASDAQ
The Nasdaq Stock Market () (National Association of Securities Dealers Automated Quotations Stock Market) is an American stock exchange based in New York City. It is the most active stock trading venue in the US by volume, and ranked second on the list of stock exchanges by market capitalization of shares traded, behind the New York Stock Exchange. The exchange platform is owned by Nasdaq, Inc., which also owns the Nasdaq Nordic stock market network and several U.S.-based stock and options exchanges. History 1971–2000 "Nasdaq" was initially an acronym for the National Association of Securities Dealers Automated Quotations. It was founded in 1971 by the National Association of Securities Dealers (NASD), now known as the Financial Industry Regulatory Authority (FINRA). On February 8, 1971, the Nasdaq stock market began operations as the world's first electronic stock market. At first, it was merely a "quotation system" and did not provide a way to perform electronic trade ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Self-regulatory Organization
A self-regulatory organization (SRO) is an organization that exercises some degree of regulatory authority over an industry or profession. The regulatory authority could exist in place of government regulation, or applied in addition to government regulation. The ability of an SRO to exercise regulatory authority does not necessarily derive from a grant of authority from the government. United States In United States securities law, a self-regulatory organization is a defined term. The principal federal regulatory authority—the Securities and Exchange Commission (SEC)—was established by the Federal Securities Exchange Act of 1934. The SEC originally delegated authority to the National Association of Securities Dealers (NASD, now Financial Industry Regulatory Authority (FINRA)) and to the national stock exchanges (e.g., the NYSE) to enforce certain industry standards and requirements related to securities trading and brokerage. On July 26, 2007 the SEC approved a merger ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Brokerage Firm
A broker is a person or firm who arranges transactions between a buyer and a seller for a commission when the deal is executed. A broker who also acts as a seller or as a buyer becomes a principal party to the deal. Neither role should be confused with that of an agent—one who acts on behalf of a principal party in a deal. Definition A broker is an independent party whose services are used extensively in some industries. A broker's prime responsibility is to bring sellers and buyers together and thus a broker is the third-person facilitator between a buyer and a seller. An example would be a real estate or stock broker who facilitates the sale of a property. Brokers can furnish market research and market data. Brokers may represent either the seller or the buyer but generally not both at the same time. Brokers are expected to have the tools and resources to reach the largest possible base of buyers and sellers. They then screen these potential buyers or sellers for the perfe ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
