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Zorluk: OrtaSelf-Regulatory Organizations (SROs) and FINRA

Although FINRA is a self-regulatory organization (SRO) authorized to create and enforce rules for its member broker-dealers and registered representatives, any proposed changes to FINRA rules must generally be filed with and approved by the Securities and Exchange Commission (SEC) before taking effect.

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True. FINRA is a self-regulatory organization operating under SEC oversight, requiring SEC approval for proposed rule modifications.
FINRA operates as a self-regulatory organization under the statutory oversight of the Securities and Exchange Commission (SEC). Under federal securities laws, any proposed FINRA rule adoption, modification, or repeal must be filed with the SEC for review and public comment before taking effect.

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1
Identify FINRA's regulatory status within the U.S. financial framework.
FINRA is a primary Self-Regulatory Organization (SRO) for broker-dealers.
SROs possess delegated rulemaking and disciplinary authority over member firms, but are not federal government agencies.
2
Analyze the relationship between SROs and the federal regulatory agency (the SEC).
The SEC exercises ultimate statutory oversight over all SROs.
Under Section 19(b) of the Securities Exchange Act of 1934, SRO rule changes require SEC review and approval.
3
Evaluate the validity of the stem statement.
The statement accurately reflects the statutory requirement for SEC approval of FINRA rule changes.
FINRA cannot unilaterally enact new rules or alter existing rules without SEC filing and oversight.

Anahtar Kavram

SEC Oversight of SRO Rulemaking
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Self-Regulatory Organizations (SROs) and FINRA

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