QUORUMCALL//GPT:
WARREN DEMANDS ANSWERS
Sen. Elizabeth Warren has called for the Financial Industry Regulatory Authority (FINRA) to provide clarity on its declining enforcement activity.
THE NUMBERS
• The number of FINRA enforcement actions fell by 30% between 2018 and 2020, while fines dropped by 73% over the same period.
• Warren is demanding explanations for this drop-off in activity.
THE BIG PICTURE
• The Massachusetts senator believes the regulator’s reduced enforcement activity is potentially allowing misconduct to go unchecked in the financial industry.
• Warren is concerned that FINRA’s current approach is not sufficiently protecting investors.
TOPICS COVERED
#FinancialRegulation
NOTE
The story comes from InvestmentNews, a trusted source for financial advisors and the investment community. The article does not seem to exhibit any obvious bias.