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Finra CEO Robert Cook promises to give brokerages more guidance on overseeing rogue brokers

June 13, 2017

Finra CEO Robert Cook promises to give brokerages more guidance on overseeing rogue brokers

Initiative is part of an effort to crack down on brokers who move from firm to firm and put investors at risk

June 12, 2017 | by Mark Schoeff Jr. | InvestmentNews.com

Finra intends to help brokerages better identify and supervise brokers with checkered disciplinary histories who may pose risks to investors.

In coming months, the broker-dealer self-regulator will delineate Finra’s expections, CEO Robert Cook said during a speech at Georgetown University Monday.

The Financial Industry Regulatory Authority Inc. put high-risk brokers at the top of its examination priorities list for this year, indicating that it is taking a look at whether brokerages hiring them are implementing heightened supervision to prevent future misconduct. In the ongoing listening tour that has marked the first year of his tenure, Mr. Cook said that Finra members have asked for more direction.

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Matthew C. Strife
Blue Vault Services
April 11, 2016

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