The Financial Industry Regulatory Authority, a self-regulatory organization that oversees brokerage firms and securities representatives in the United States. FINRA enforces compliance with federal securities laws and its own rules.
Acronym formed from Financial Industry Regulatory Authority, established in 2007 through the merger of NASD (National Association of Securities Dealers) and NYSE regulation. Represents evolution from industry self-regulation dating back to the 1930s Securities Acts.
FINRA is like the police force of Wall Street, but it's actually run by the industry itself rather than the government - it's a private organization with public regulatory powers, which creates interesting dynamics when Wall Street essentially polices itself!
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