FINRA is considering a possible multi-year initiative called FINRA360, wherein the self-regulatory organization is conducting a whole review of day to day functions and programs, with input from both inside as well as outside the corporation.
FINRA’s fine and demand for restitution, along with Lewis’ long prison sentence, sends a strong message that such failures by broker-dealers will not be tolerated. In today’s climate where protecting seniors has become paramount, we expect to see more and more of such regulatory actions.
