What is FINRA Compliance?
The Financial Industry Regulatory Authority (FINRA) is an independent regulatory body monitored by the SEC to manage and protect the financial industry against breaches in regulations that could lead to corruption, fraud or theft. All told, FINRA monitors up to 4,200 brokerage firms up to 75 billion transactions each day.
As part of that mission, FINRA develops and implements a set of compliance requirements that protect financial transactions against theft. This includes several layers of financial best practices as well as cybersecurity measures that protect communications, transactions and data every single day.
Here, we’ll cover the basics of FINRA compliance and what it could mean for your business.