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Distinguished Toastmaster
BUSINESS & BRANDING COACH . LIFE & LEADERSHIP STRATEGIST MOTIVATIONAL SPEAKER SERVING ENTREPRENEURS & MAIN STREET |
________________________________________________________________________________________________________________________________________ CLIFFNOTES: FINRA, CONGRESS & DRS (c) Carrie Devorah:
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CONGRESS SAID: 15 U.S. Code § 78o - Registration and regulation of brokers and dealers
S.E.C. THE COMMISSION SAID:
(a) Registration of all persons utilizing exchange facilities to effect transactions; exemptions
(2) The Commission, by rule or order, as it deems consistent with the public interest and the protection of investors…
(b) Manner of registration of brokers and dealers
(1) A broker or dealer may be registered by filing with the Commission an application for registration in such form and containing such information and documents concerning such broker or dealer and any persons associated with such broker or dealer as the Commission, by rule, may prescribe as necessary or appropriate in the public interest or for the protection of investors. Within forty-five days of the date of the filing of such application (or within such longer period as to which the applicant consents), the Commission shall—
CONGRESS ADRESSED:
larceny, theft, robbery, extortion, forgery, counterfeiting, fraudulent concealment, embezzlement, fraudulent conversion, or misappropriation of funds, or securities,
AND Congress Said: 15 U.S. Code § 80b–1 - Findings
Upon the basis of facts disclosed by the record and report of the Securities and Exchange Commission made pursuant to section 79z–4 [1] of this title, and facts otherwise disclosed and ascertained, it is found that investment advisers are of national concern, in that, among other things--
THE S.E.C. AUTHORIZED: Category: S41 (Promotion of Business (Chambers of Commerce) Ruling Year: 1937 Mission Statement: FINRA IS DEDICATED TO INVESTOR PROTECTION AND MARKET INTEGRITY THROUGH EFFECTIVE AND EFFICIENT REGULATION OF THE SECURITIES INDUSTRY www.finra.org (NOT .gov)
2. FINRA Investor Education Foundation AKA FINRA Foundation Category: T20 (Private Grantmaking Foundations); T23 (Private Operating Foundations) NTEE Category: P Human Services, T Philanthropy, Voluntarism and grantmaking, 23 Private Operating Foundations Ruling Year: 2004 Mission Statement: The FINRA Investor Education Foundation, formerly known as the NASD Investor Education Foundation, supports innovative research and educational projects that give investors the tools they need to better understand the markets and the basic principles of saving and investing.
3. Finra Regulation Inc NTEE Category: S Community Improvement, Capacity Building, S41 (Promotion of Business (Chambers of Commerce) Ruling Year: 1997 Mission Statement: FINRA IS DEDICATED TO INVESTOR PROTECTION AND MARKET INTEGRITY THROUGH EFFECTIVE AND EFFICIENT REGULATION OF THE SECURITIES INDUSTRY
4 . FINRA DISPUTE RESOLUTION INC Category: I51 (Dispute Resolution/Mediation Services)
NTEE Category: I Crime, Legal Related, I51 (Dispute Resolution/Mediation Services)
Ruling Year: 2000
Mission Statement: MARKET INTEGRITY THROUGH EFFECTIVE AND EFFICIENT REGULATION OF THE SECURITIES INDUSTRY
BUT THE S.E.C. [email protected] SAID: As I indicated in my response to you below, “In general, all of the registered national securities exchanges and national securities associations are SROs. At present, FINRA is the only national securities association.”
Here are a link to a list of the SROs: http://www.sec.gov/rules/sro.shtml.
FINRA is the only national securities association because, it is my understanding, no other entities have filed to register as such.
Signed, The Division of Trading and Markets
.org, .org, .org, .org..........................What was that about FOIA's, PIABA?
S.E.C. THE COMMISSION SAID:
(a) Registration of all persons utilizing exchange facilities to effect transactions; exemptions
(2) The Commission, by rule or order, as it deems consistent with the public interest and the protection of investors…
(b) Manner of registration of brokers and dealers
(1) A broker or dealer may be registered by filing with the Commission an application for registration in such form and containing such information and documents concerning such broker or dealer and any persons associated with such broker or dealer as the Commission, by rule, may prescribe as necessary or appropriate in the public interest or for the protection of investors. Within forty-five days of the date of the filing of such application (or within such longer period as to which the applicant consents), the Commission shall—
CONGRESS ADRESSED:
larceny, theft, robbery, extortion, forgery, counterfeiting, fraudulent concealment, embezzlement, fraudulent conversion, or misappropriation of funds, or securities,
AND Congress Said: 15 U.S. Code § 80b–1 - Findings
Upon the basis of facts disclosed by the record and report of the Securities and Exchange Commission made pursuant to section 79z–4 [1] of this title, and facts otherwise disclosed and ascertained, it is found that investment advisers are of national concern, in that, among other things--
THE S.E.C. AUTHORIZED: Category: S41 (Promotion of Business (Chambers of Commerce) Ruling Year: 1937 Mission Statement: FINRA IS DEDICATED TO INVESTOR PROTECTION AND MARKET INTEGRITY THROUGH EFFECTIVE AND EFFICIENT REGULATION OF THE SECURITIES INDUSTRY www.finra.org (NOT .gov)
2. FINRA Investor Education Foundation AKA FINRA Foundation Category: T20 (Private Grantmaking Foundations); T23 (Private Operating Foundations) NTEE Category: P Human Services, T Philanthropy, Voluntarism and grantmaking, 23 Private Operating Foundations Ruling Year: 2004 Mission Statement: The FINRA Investor Education Foundation, formerly known as the NASD Investor Education Foundation, supports innovative research and educational projects that give investors the tools they need to better understand the markets and the basic principles of saving and investing.
3. Finra Regulation Inc NTEE Category: S Community Improvement, Capacity Building, S41 (Promotion of Business (Chambers of Commerce) Ruling Year: 1997 Mission Statement: FINRA IS DEDICATED TO INVESTOR PROTECTION AND MARKET INTEGRITY THROUGH EFFECTIVE AND EFFICIENT REGULATION OF THE SECURITIES INDUSTRY
4 . FINRA DISPUTE RESOLUTION INC Category: I51 (Dispute Resolution/Mediation Services)
NTEE Category: I Crime, Legal Related, I51 (Dispute Resolution/Mediation Services)
Ruling Year: 2000
Mission Statement: MARKET INTEGRITY THROUGH EFFECTIVE AND EFFICIENT REGULATION OF THE SECURITIES INDUSTRY
BUT THE S.E.C. [email protected] SAID: As I indicated in my response to you below, “In general, all of the registered national securities exchanges and national securities associations are SROs. At present, FINRA is the only national securities association.”
Here are a link to a list of the SROs: http://www.sec.gov/rules/sro.shtml.
FINRA is the only national securities association because, it is my understanding, no other entities have filed to register as such.
Signed, The Division of Trading and Markets
.org, .org, .org, .org..........................What was that about FOIA's, PIABA?