05.16.22
FINRA Treading Carefully on Complex Product Regs: CEO Cook
by: Melanie Waddell
After issuing a request for information on complex products that drew widespread criticism from the investment industry, the Financial Industry Regulatory Authority (FINRA) will consider the comments carefully before making any changes to regulation, the self-regulator’s CEO said Monday. “Our minds are not made up about this,” Robert Cook said at FINRA's annual conference. FINRA took comments until May 9 on which products should be classified as “complex.” “It’s an important topic,” Cook said. “We’ve received a lot of comments and we’re going to go through them very carefully and think about whether any further action is appropriate — and what that would look like.”
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