Veteran journalist Matt Schifrin is about as blunt and savvy a reporter as there is on Wall Street - just consider the title of his recent Forbes' column: Why FINRA May Become An Even Bigger Joke (October 11, 2011).
In characterizing the Financial Industry Regulatory Authority ("FINRA") as never having "been a very effective cop on its beat" and as a regulator that has been described as "being 'asleep at the wheel' when it comes to taking action against disreputable member firms," Matt certainly seems to have his finger on the thready pulse of the dismal state of Wall Street's regulation. Consequently, it's notable when such a distinguished journalist warns that:
Now Alabama Republican Representative Spencer Bachus is pushing hard to give more regulatory power to FINRA because the SEC is ill-equipped to handle the job. To me its a bit like letting the student council at a junior high school take over the principal's office because the principal and his staff are ineffective.
Matt is in the midst of launching an online conversation about whether FINRA is the right cop to police our securities industery. Forbes will be seeking readers' comments concerning this debate. Please make sure to weigh in with your own views on FINRA and the state of our nation's securities regulation.
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On November 14, 2011, Bill Singer will be the afternoon's Keynote Speaker at the Fall Symposium of the National Association of Independent Broker Dealers ("NAIBD"). Bill's appearance is scheduled for 2:30 - 3:15 PM at Bayard's in New York City.
For information about this day-long event, VISIT