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On The Front Lines of Protecting Investors

FINRA’s priorities are clear: getting bad brokers out of the industry, returning money to harmed investors, and preventing and deterring future misconduct. We stand ready on the front lines of investor protection to act quickly, root out potential fraud, and aggressively stop those who take advantage of vulnerable investors.
On The Front Lines of Protecting Investors

To carry out our mission, FINRA monitors and examines for member firm compliance with FINRA rules, MSRB rules, and federal securities laws and rules, and works to detect and address possible fraud or other misconduct. We investigate possible misconduct and bring disciplinary actions for violations of industry rules and regulations. We coordinate closely with the SEC and other federal and state regulators.

We register and administer qualification examinations to securities industry personnel who conduct business with the investing public, and require them to achieve and maintain certification as members of FINRA. We operate a fair and efficient dispute resolution forum for investors, brokerage firms and their registered employees.

We provide BrokerCheck®, a free online tool that allows the investing public to research the background and experience of financial brokers, advisers and firms.  We offer investors financial tools and resources through the FINRA Investor Education Foundation®.

Protecting investors—this is our core mission.

News Release
Small, But Encouraging Gains Apparent Among Some Groups WASHINGTON—African Americans and Hispanics/Latinos continue to be underrepresented among investor households in America, despite modest gains by African Americans in recent years, according to new research released by the FINRA Investor Education Foundation (FINRA Foundation).
Podcast
Shawn Spruce’s advocacy work earned him the 2021 Ketchum Prize, the FINRA Foundation’s highest honor. On this episode, we talk to Spruce about his teaching and outreach as a tireless champion of investor education and expanded financial capability in Native communities.
News Release
Champion of Financial and Investor Education in Native Communities Receives Highest Honor WASHINGTON—The FINRA Investor Education Foundation (FINRA Foundation) today awarded Shawn Spruce the 2021 Ketchum Prize—its highest honor—in recognition of his outstanding advocacy, teaching and outreach as a champion of investor education and financial capability in Native communities.
News Release
WASHINGTON—In a combined effort to provide additional protection for investors, FINRA and the North American Securities Administrators Association (NASAA) today announced a new campaign urging investors to provide their financial firms with a trusted contact. The U.S. Securities and Exchange Commission’s Office of Investor Education and Advocacy (SEC OIEA) is also collaborating on this initiative.
News Release
WASHINGTON—New findings from a two-year study bring researchers closer to understanding why some people are more likely to lose money to financial fraud. The FINRA Investor Education Foundation (FINRA Foundation), Better Business Bureau (BBB) Institute for Marketplace Trust, and the University of Minnesota completed the study, Exposed to Scams: Can Challenging Consumers’ Beliefs Protect Them from Fraud?, in advance of World Investor Week, October 4-10, 2021.
News Release
FINRA and FINRA Foundation Issue Special Notice Soliciting Comment on Ways to Reach and Educate Novice Investors WASHINGTON—FINRA today announced it has launched a multi-year, multi-faceted $30 million initiative to explore innovative ways to reach and educate investors, especially new, self-directed retail investors who conduct transactions through online accounts or using mobile apps.
News Release
Firm Ordered to Pay Approximately $70 Million for Systemic Supervisory Failures and Significant Harm Suffered by Millions of Customers WASHINGTON—FINRA announced today that it has fined Robinhood Financial LLC $57 million and ordered the firm to pay approximately $12.6 million in restitution, plus interest, to thousands of harmed customers. The sanctions represent the largest financial penalty ever ordered by FINRA and reflect the scope and seriousness of the violations.
Podcast
Intelligence means different things to different people. But for FINRA, at its most basic, it is the actionable information that allows employees, from an organization’s senior executives to its examiners or investigators, to make informed decisions. On this episode, we sit down to learn about FINRA’s new Financial Intelligence Unit, and how it is looking to transform how FINRA takes in, analyzes, and shares data.
News Release
WASHINGTON—FINRA announced today that it has ordered Merrill Lynch, Pierce, Fenner & Smith, Inc. to pay more than $8.4 million in restitution to more than 3,000 customers who incurred potentially excessive sales charges in connection with early rollovers of Unit Investment Trusts (UITs). FINRA also fined the firm $3.25 million for failing to reasonably supervise early UIT rollovers.
News Release
Regulators Providing Free Training in Recognition of World Elder Abuse Awareness Day; Program Aims to Assist Firms in Implementing Requirements of Senior Safe Act WASHINGTON—In recognition of World Elder Abuse Awareness Day, the Financial Industry Regulatory Authority (FINRA), the U.S. Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) today announced a new resource intended to assist securities firms in implementing the training requirements of the Senior Safe Act.