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This is why I asked the second question. If FINRA has no obligation to enforce its punishments, but doesn't want to deal with the fallout of the same company wi
by laurowyn 5y ago
This is why I asked the second question. If FINRA has no obligation to enforce its punishments, but doesn't want to deal with the fallout of the same company with the same name and leadership reapplying for membership, then how do they get around that? Force the company to change name, change executives and reapply in 6 months. it all blows over, FINRA gets their membership fees and everybody is none the wiser.
But yes, in an ideal world it wouldn't work this way. who watches the watchmen? If FINRA isn't regulated, then they can do what they like.
- cherryturnover 5y agoThe whole point is everybody involved plays fair and follows the rules so they dont have a government agency come in and regulate them.
- seanhunter 5y agoWhy would you think FINRA has no interest in enforcing it's punishments? If they didn't enforce their punishments then they wouldn't have any authority over their members, so I expect they want to have opportunities to enforce punishments.