Reported 9 months ago
Finra, the Wall Street regulator, faced criticism as its caseload plunged to the lowest level in its history and enforcement actions dwindled, despite increased headcount and budget. Concerns are raised over whether the regulator is adequately policing financial firms, with some former staff questioning its effectiveness and proactive pursuit of cases. Finra denies a pullback in enforcement but acknowledges improvements in keeping bad actors out of the industry. Senator Elizabeth Warren plans to investigate the decline in enforcement, highlighting the importance of holding big financial services firms accountable.
Source: YAHOO