FINRA Remote Supervision Proposals Headed Back to the Drawing Board: Cook
by: Miriam Rozen
Rule proposals from the Financial Industry Regulatory Authority (FINRA) to allow for more flexible supervision of brokers’ home offices are far from a sure thing, according to FINRA CEO Robert Cook. The U.S. Securities and Exchange Commission (SEC) has until the end of March to sign off on one proposal and late April for another, but approval is “not going to happen in that timeframe, realistically,” Cook said at an industry event. Instead, FINRA will have to work with the SEC to find a way to revise the rule proposals and publish them for another round of comments, Cook said.
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