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Finance: What is FINRA? 5 Views
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Description:
What is FINRA? FINRA is the Financial Industry Regulatory Authority. They are responsible for ensuring that financial transactions are done fairly; basically they are in charge of and make the rules for investment firms and anyone engaging in securities trading.
- Social Studies / Finance
- Finance / Financial Responsibility
- College and Career / Personal Finance
- Life Skills / Personal Finance
- Finance / Finance Definitions
- Life Skills / Finance Definitions
- Finance / Personal Finance
- Courses / Finance Concepts
- Subjects / Finance and Economics
- Finance and Economics / Terms and Concepts
- Terms and Concepts / Banking
- Terms and Concepts / Company Management
- Terms and Concepts / Derivatives
- Terms and Concepts / Ethics/Morals
- Terms and Concepts / Incorporation
- Terms and Concepts / Investing
- Terms and Concepts / Managed Funds
- Terms and Concepts / Marketing
- Terms and Concepts / Metrics
- Terms and Concepts / Mutual Funds
- Terms and Concepts / Real Estate
- Terms and Concepts / Regulations
- Terms and Concepts / Trading
Transcript
- 00:00
finance a la shmoop what is FINRA? Financial Industry Regulatory Authority
- 00:09
once again for those in the back that's Financial Industry Regulatory
- 00:13
Authority FINRA it's kind of a yoga mantra thing because firms get FINRA'd [Woman meditating with yoga]
- 00:19
every day well FINRA is the private agency that
- 00:23
regulates exchanges and brokerage firms that are members they administer tests
Full Transcript
- 00:29
and actually create them you know like these the series exams which we just [Series exams appear]
- 00:33
happen to have shmoop if you've got 70 to 80 spare hours and want to give them
- 00:38
a looksie... think about all the bad PR that sleazy financial wheeler-dealers [Financial dealers discussing matters]
- 00:42
got back in the 1930s before the various acts were enacted you know the 33 34 40
- 00:48
nobody was gonna trust "Wall Street people" unless there was a kind
- 00:54
of Good Housekeeping Seal of fair-and-square dealers who made sure
- 00:58
that the various laws and compliance things were actually upheld..Note,
- 01:02
importantly that it isn't the job of FINRA or well any government body to
- 01:07
recommend buying selling or holding any particular security because you're gonna
- 01:11
make money it's only their job to be sure that the letter of the law is [Letter of law appears]
- 01:15
followed and that that letter is presented in a way so that everyone has
- 01:20
fair access to relevant and similar information it's all about making a fair
- 01:25
and square level playing field for all without that well Manhattan would look a
- 01:30
lot more like Mogadishu than Manhattan [Manhattan skyline appears]
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