FINRA reviewing conflicts of interest at U.S. brokerages

Wall Street’s industry-funded watchdog wants to learn more about how brokerages are managing conflicts of interest, including compensation that may motivate brokers to push certain securities to investors, a top U.S. regulator said on Wednesday. The Financial Industry Regulatory Authority (FINRA) is in the process of collecting information about conflicts of interest from 14 brokerages, according to Susan Axelrod, head of FINRA’s member regulation unit. Meetings between FINRA and representatives from those brokerages are about to begin, she said during a seminar in New York hosted by the Practising Law Institute, a group that provides continuing legal education classes to lawyers. More on Reuters here.

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