Wednesday, August 31, 2016

The Revolving Door Between
Regulators, Industry Lobbyists
& Crony Capitalist Bankers
Finra, shorthand for the Financial Industry Regulatory Authority, is the Wall Street-funded regulator that oversees stockbrokers & their firms. It's also the operation that runs the most widely used dispute resolution forum for aggrieved investors in an era when the courts are cut off by mandatory arbitration agreements .. "If you’re wondering why things don’t always turn out so well for Mom and Pop when they entrust money to a broker, you might ponder the balance of power on Finra’s board .. Among the 12 purportedly 'public' representatives on its board, Finra has a guy described by Bloomberg as 'a leader in financial services technology,' another who spent 35 years at J.P. Morgan, an insurance executive who once worked at Citigroup and Salomon Brothers, and a fellow who founded a private investment firm."
LINK HERE to the article

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