05.02.25

GOP Steps up Battle To Eliminate FINRA as Regulator

by: Tracey Longo

U.S. Rep. Lisa McClain (R-MI) has introduced legislation that proposes to eliminate the Financial Industry Regulatory Authority's (FINRA) role as a regulator and move its duties to the Securities and Exchange Commission (SEC). The Restoring Accountability in Market Supervision Act has already been incorporated into a broader legislative package known as the SEC Reform and Restructuring Act, which includes various measures to restructure the SEC's regulatory framework.

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