FSI Submits Comment Letter on FINRA Engagement Initiative

The Financial Services Institute (FSI) submitted a comment letter to FINRA regarding potential enhancements to certain engagement programs (Special Notice). The Special Notice is part of an initiative by FINRA to identify opportunities to more effectively further its mission of investor protection and market integrity.

Click here to read FSI’s comment letter.

“We applaud FINRA for undertaking a review of its operations and programs and for including industry participants and stakeholders in the process,” said FSI President & CEO Dale Brown. “As one of the only trade associations whose membership includes individual financial advisor members FSI can play a key role in facilitating outreach between FINRA and financial advisors, who are directly impacted by FINRA rules and regulations and whose perspective comes from direct interactions with investors. Over the years, FSI has made it a priority to engage constructively with regulators to create efficient and effective regulations. We applaud FINRA’s effort to enhance engagement initiatives and look forward to continue working with them as they continue this process.”

The comment letter responds to questions posed in the Special Notice using survey responses of FSI members in addition to suggestions on how FINRA can more effectively engage with member firms, investors and other stakeholders.

About the Financial Services Institute (FSI): The Financial Services Institute (FSI) is the only organization advocating solely on behalf of independent financial advisors and independent financial services firms. Since 2004, through advocacy, education and public awareness, FSI has successfully promoted a more responsible regulatory environment for more than 100 independent financial services firm members and their 160,000+ affiliated financial advisors – which comprise over 60% of all producing registered representatives. We effect change through involvement in FINRA governance as well as constructive engagement in the regulatory and legislative processes, working to create a healthier regulatory environment for our members so they can provide affordable, objective advice to hard-working Main Street Americans. For more information, please visit financialservices.org.

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