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FINRA financial industry regulatory authority

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FINRA believes that the markets should be fair for all participants. The body feels that this will ensure investors have as many choices as possible for their money. In addition, FINRA believes in taking a proactive approach to regulatory issues, because this will enhance its mission of consumer protection (Ibid)

FINRA was set up by the two major exchanges in part because of the need to ensure that the markets are fair and are regulated efficiently and effectively. Stock markets today compete globally for capital and FINRA is a natural response to the need of US markets to gain competitive advantage by having the best regulatory system possible. FINRA has a mandate to provide the strongest possible regulation while maintaining market efficiency, and without adding unnecessary cost burdens. The agency believes that consumer protection is the most important aspect of its role, and that protection comes not only from compliance enforcement but also from education of investors. FINRA has sought to expand its role to include insurance and investment advice from broker-dealers, as these functions are typically a part of consumers investment plan......