"These rulings will backfire on markets and investors." http://f-st.co/24IBpTe
Fast Company’s Post
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Your Career Growth Partner in Financial Services | Compliance and Risk - Connecting You with Opportunities that Match Your Passion and Skills
Did you know that the birth of regulatory oversight began in the 1930s? The aftermath of the 1929 Wall Street crash was a turning point for the financial world. Investor confidence was at an all-time low, and the need for regulatory oversight became evident. In response, the Securities and Exchange Commission (SEC) was established in 1934. This marked the beginning of formal regulatory oversight in financial markets and was a crucial step in restoring trust and stability. The creation of the SEC laid the groundwork for modern compliance programs, ensuring that financial markets operate with transparency and integrity. This milestone serves as a reminder of the importance of robust regulatory frameworks in maintaining the health and trustworthiness of our financial systems. Image: In 1932, in the aftermath of the October 29, 1929 crash, the U.S. Senate Banking Committee began a series of hearings to investigate the causes of the crash. These hearings, known as the Pecora Commission (or Pecora Investigation), continued until May 1934. Once the Securities Exchange Act was passed, Joseph P. Kennedy became the first chairman, with Ferdinand Pecora, who led the investigation, George C. Mathews, James M. Landis, and Robert E. Healy appointed as commissioners. The Securities Exchange Act of 1934 was not the only law passed to restore confidence and establish a regulatory framework; Congress actually passed a series of laws during this period to strengthen financial oversight and regulation. https://lnkd.in/gn8hVPTk #InvestmentBanking #Compliance #FinancialHistory #Regulation #Finance
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The entire FINRA statement to the Subcommittee on Capital Markets within the U.S. House Committee on Financial Services is a must-read. We thought FINRA's multiple paragraphs on retail options trading were interesting, beginning with this snippet: "One feature of the evolving market is the increased interest by retail investors in products outside of traditional equities and bond offerings, including options and complex products that in many cases can be an appropriate part of an investment strategy, but can also present additional risks. FINRA has paid particular attention to the increased use of options by retail investors, particularly where such investors may not have the financial knowledge and experience to understand these products." #suitability #education #multilingual
Read FINRA CEO Robert Cook’s written testimony for today’s hearing of the Capital Markets Subcommittee of the House Financial Services Committee. ▶️ https://lnkd.in/g4rnTF3r
Statement Before the Subcommittee on Capital Markets of the U.S. House of Representatives' Financial Services Committee | FINRA.org
finra.org
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🚨 New Blog Alert! 🚨 Ever wondered how the chaotic financial markets of the early 20th century became the transparent systems we trust today? 🌟 Check out our latest post: "Why Do We Need the Securities Exchange Act of 1934?" 📜💼 ✨ Highlights: The wild, unregulated era before the Act 🌪️ How the 1929 crash changed everything 📉 The Act's lasting impact on today's markets 📊 Read now and discover the story behind one of finance's biggest game-changers! 🔗 https://lnkd.in/erWEZtPP #FinanceHistory #MarketRegulation #SEC #Investment #FinancialEducation #SecuritiesAct1934
The Securities Exchange Act of 1934
philanthroinvestors.com
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Attorney with 25+ years of experience in securities, criminal, white-collar criminal, and government enforcement.
ROBERT W. COOK President and Chief Executive Officer, FINRA Statement Before the Subcommittee on Capital Markets of the U.S. House of Representatives’ Financial Services Committee Thank you for the opportunity to appear today to discuss the important work that the Financial Industry Regulatory Authority, or FINRA, is doing to fulfill our mission under the federal securities laws to protect investors and safeguard market integrity while facilitating vibrant capital markets. The last several years have witnessed a period of continued evolution for the securities markets and those who participate in them. Innovations in technology and financial products and services have created many benefits and opportunities for investors, but in some cases have also introduced new risks or challenges that merit thoughtful regulatory responses. Throughout this time, FINRA has continued to serve an essential role on the front lines of protecting investors and safeguarding markets, supporting the work of the Securities and Exchange Commission (SEC) and operating under its close supervision. Drawing on an industry self-regulatory model that pre-dates the federal securities laws, FINRA has been well positioned to adapt nimbly to change, leveraging innovative technology and deep market expertise to ensure oversight keeps pace with the industry. Today, we continue to enhance our firm and market oversight programs, bring targeted, significant enforcement cases to address misconduct, improve our engagement with member firms and investors and develop new approaches to help investors make informed investment decisions. And we continue our efforts to look over the horizon, engaging with market participants in new ways that support our mission and making investments in human and technology resources to address emerging risks.... Read the full statement, linked below: https://bit.ly/3NwTCin #finra #enforcement #regulatory #securities #financialindustry #brokerdealers
Statement Before the Subcommittee on Capital Markets of the U.S. House of Representatives’ Financial Services Committee
finra.org
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In June, our SEC Regulations Committee met with U.S. Securities and Exchange Commission staff to discuss emerging technical accounting and reporting issues relating to SEC rules and regulations. Discover the takeaways: https://bit.ly/4cWSUVv
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🚨 New Blog Alert! 🚨 Ever wondered how the chaotic financial markets of the early 20th century became the transparent systems we trust today? 🌟 Check out our latest post: "Why Do We Need the Securities Exchange Act of 1934?" 📜💼 ✨ Highlights: The wild, unregulated era before the Act 🌪️ How the 1929 crash changed everything 📉 The Act's lasting impact on today's markets 📊 Read now and discover the story behind one of finance's biggest game-changers! 🔗 https://lnkd.in/e4-546Eb #FinanceHistory #MarketRegulation #SEC #Investment #FinancialEducation #SecuritiesAct1934
The Securities Exchange Act of 1934
philanthroinvestors.com
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In case you missed it: The U.S. Securities and Exchange Commission is reconsidering its swing pricing proposal following the outcry from the fund industry, investors, and bipartisan lawmakers over the harms it posed to mutual funds and American families. Take a look back at ICI's work to advocate on behalf of the millions of investors that rely on mutual funds to secure their financial futures: https://bit.ly/3y2D1ON
3. A Look Back at Swing Pricing…
penta.read.axioshq.com
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Senior Policy & Regulatory Strategist - Financial Services, Private Funds & Digital Assets; Advisor to Financial Services and Technology Firms
Tomorrow, the U.S. House Committee on Financial Services will hold a hearing on "SEC Overreach: Examining the Need for Reform" at the U.S. Securities and Exchange Commission. While a variety of legislative items are on the calendar focusing on constraining the SEC's ability to conduct rulemaking, #privatefundadvisers will note the joint resolution proposed by Representative Mooney (R-WV) disapproving the SEC's #PFA rule. #privateequity #venturecapital #hedgefunds https://lnkd.in/eYRaVArt
Patrick McHenry Chairman
financialservices.house.gov
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“The 5 of Us” Podcast, TEDx Speaker, Women in Tech Global Conference Speaker, Former NYC Anchor/Reporter, Irish America Magazine's Top 50 Irish American Power Women, Irish America's Top Media 30, Emmy Nominee
“Neither the government regulators nor the financial industry self-regulatory organizations can correct the problem because they ARE the problem. This is the very definition of what I have come to call a Regulatory Crisis…” -Susanne Trimbath “The circumstances present in the securities industry today, where self-regulatory organizations on Wall Street write rules that get rubber-stamped by the regulators in Washington, is the definition of a Regulatory Crisis…. ….Denial makes us vulnerable to the next financial collapse because the Regulatory Crisis continues unabated and unresolved. The Securities and Exchange Act of 1933 was written against the backdrop of the Stock Market Crash of 1929 and the Great Depression that followed. The central clearing and settlement system we have today was born of the Paperwork Crisis of the late 1960s, when it was impossible to exchange money for stock certificates within two weeks of the trade. As a result of the Great Financial Crisis of 2008, we got new legislation from Washington for Wall Street in the Dodd-Frank Act of 2010. That Act didn’t change any of the rules that contributed to the Crisis. It merely required several regulators and financial self-regulatory organizations to perform studies and propose their own new rules to try to stave off the next financial crisis. You could say “crisis” is in the DNA of the self-regulatory financial system we have today. Investors and the entrepreneurs they support are being harmed by short sells, settlement failures and stock lending under rules approved by the Securities and Exchange Commission (SEC) and monitored by a multitude of self-regulatory organizations. Neither the government regulators nor the financial industry self-regulatory organizations can correct the problem because they ARE the problem. This is the very definition of what I have come to call a Regulatory Crisis…” https://lnkd.in/e-5rhBqE
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JUST PUBLISHED! Excessive Extrapolation highlights the risks of stock based compensation, the need for diversification, and the role of Financial Advisors in preventing a SBC-driven financial crisis. Get it here ↓ https://lnkd.in/edxciiew
KCR Micro Model ExplainedExcessive Extrapolation & Stock Based Compensation
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