Oklahoma Department of Securities Comment On Regulatory Notice 21-17
Oklahoma Department of Securities
State Regulator
From our review of FINRA’s website information on diversity and Regulatory Notice 21-17, it is our opinion that your efforts are commendable and on target to promoting and encouraging diversity in the industry and at FINRA. The programs that you have established e.g. your Internal Racial Justice Task Force, Annual Diversity Summit and the Racial Justice Task Force should help identify barriers to inclusion in the industry and consequently, provide remedies to overcome such impediments. We are encouraged as well, by the development of the SIE (Securities Industry Essentials) Exam that is designed to identify potential candidates who have the acumen and talent for the broker-dealer industry. The Employee Resource Groups within FINRA, that promote information sharing and mentoring among employees, should serve FINRA well in terms of recruitment and retention of employees. Finally, your Annual Diversity and Inclusion Report evidences the progress that has been made towards the goal of a diversified work force at FINRA and the recruitment of prospective employees. From some of our discussions with minority members of the broker dealer industry in Oklahoma, common concerns regarding barriers in the industry involve product exams and the success rate of minority applicants and the allocation of customer accounts to industry members who are minorities.
Oklahoma Department of Securities Comment On Regulatory Notice 21-17
From our review of FINRA’s website information on diversity and Regulatory Notice 21-17, it is our opinion that your efforts are commendable and on target to promoting and encouraging diversity in the industry and at FINRA. The programs that you have established e.g. your Internal Racial Justice Task Force, Annual Diversity Summit and the Racial Justice Task Force should help identify barriers to inclusion in the industry and consequently, provide remedies to overcome such impediments. We are encouraged as well, by the development of the SIE (Securities Industry Essentials) Exam that is designed to identify potential candidates who have the acumen and talent for the broker-dealer industry. The Employee Resource Groups within FINRA, that promote information sharing and mentoring among employees, should serve FINRA well in terms of recruitment and retention of employees. Finally, your Annual Diversity and Inclusion Report evidences the progress that has been made towards the goal of a diversified work force at FINRA and the recruitment of prospective employees. From some of our discussions with minority members of the broker dealer industry in Oklahoma, common concerns regarding barriers in the industry involve product exams and the success rate of minority applicants and the allocation of customer accounts to industry members who are minorities.