We have all heard of corporate mergers and we have sure seen enough of them in the past couple of decades, but what do you call it when non-governmental regulatory agencies merge? Well it has happened and now it is time for all financial companies that were being regulated by either and/or both to change their stationary. An opportunity awaits the printing industry.
The NASD stood for National Association of Securities Dealers and the NYSE stood for the New York Stock Exchange. If you put in for the NASD website, it takes you to the new FINRA site. FINRA stands for Financial Industry Regulatory Authority. Yes, it does not exactly spell FINRA, but its close. All brokers in the security industry will now have to change their email signature defaults, business cards, brochures and those little plastic signs in their offices.
Why was this done and is this really going to be good for the investing consumer? Yes, this will help modernize the self-regulatory regime. Their objectives are to protect consumers and increase integrity, by regulating marketing practices. Will FINRA live up to its mission? Apparently so and they are well on their way to increasing education for investors. Education is the easiest way to prevent problems in advance. If investors are wiser about their securities investments prior to investing, then this will help them make better decisions.
Is private enterprise capable of regulating itself? Some say no, and yet this is a major step in the right direction and it is best for all concerned. Investors have a right to know and make knowledgeable investments. The Online Think Tank believes this is a major step in the right direction. Sincerely, Lance.
"Lance Winslow" - Online Think Tank forum board. If you have innovative thoughts and unique perspectives, come think with Lance; http://www.WorldThinkTank.net/. Lance is a guest writer for Our Spokane Magazine in Spokane, Washington
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