UNLOCK THE POWER OF THE VAULT

Finra enforcement chief Brad Bennett to resign

December 20, 2016

Finra enforcement chief Brad Bennett to resign

Susan Schroeder, deputy head of enforcement, will take his place on an acting basis while regulator conducts a search for permanent replacement

Dec 15, 2016 @ 10:53 am | By Mark Schoeff Jr. | Investment News

Finra pursued broad, sweeping cases and also ramped up its crackdown on smaller violations during the six-year tenure of J. Bradley Bennett as the organization’s chief of enforcement.

The Financial Industry Regulatory Authority Inc., the broker-dealer self-regulator announced on Thursday that Mr. Bennett, 54, will step down early next year.

Finra has named Susan Schroeder, deputy head of enforcement, as acting chief while it conducts a search for Mr. Bennett’s replacement.

Mr. Bennett will leave behind a unit that acts more like the enforcement arm of the Securities and Exchange Commission, which oversees Finra, according to a former Finra official.

“He brought cases within Finra’s expertise and responsibility but on a scale of size, sanction and sophistication that can compete with the federal regulators, such as the SEC,” said Dan Nathan, a partner at Morvillo LLC and Finra director of regional enforcement from 2006-11.

Mr. Bennett has led the 300-member Finra enforcement staff since January 2011. Last year, Finra levied $191.7 million in fines and restitution.

Read Full Article Located Here

Go Back
Gordon Dunne
September 30, 2019

“Always, but especially in this day of lawsuits and ever increasing regulations, the responsibility for a financial advisor t do their own due diligence on products they sell falls squarely on themselves. No one is going to take greater interest in protecting their practice than they are. We use the Blue Vault Partners Nontraded REIT Review to keep us informed of the performance of every single nontraded REIT. Finally, complete transparency is available for advisors using nontraded REITs. Every advisor using REITs in their practice should make the small annual investment of subscribing to Blue Vault’s reporting services.”