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You may have lost money in your investment portfolio,
due to mismanagement and not even know it.

New moves at FINRA spotlight entity's identity, regulatory role

Material news relating to the Financial Industry Regulatory Authority is always consequential in the realm of American securities law, and we thus duly report it.

The bottom line: A high-level personnel shake up at the agency was recently announced, scheduled to take effect August 15.

To wit: Current Finra Chairman and Chief Executive Officer Richard G. Ketchum will be stepping down from his dually held positions, relinquishing those titles to John J. Brennan and Robert W. Cook, respectively.

Some people might reasonably question whether Finra was best served by having one individual serve as both chairman and CEO. Finra's recent announcement regarding separate individuals now assuming those positions did not address the matter.

Finra is a self-regulatory entity that polices most of the nation's brokerage houses and financial advisers, and questions have often risen regarding its ability in that capacity to adequately oversee the industry.

Brennan harbors no doubts on that point, calling it "specious."

"I know we've made progress in terms of investor protection [and] market integrity," he recently stated.

One central role played by Finra is to field arbitration panels through which investor complaints can be heard and adjudged. As we note on our securities law website at The Law Offices of Marc I. Zussman in Los Angeles, our firm has represented many individual and business clients before such panels, as well as in formal litigation before courts and juries. Our principal attorney commands more than four decades of professional legal experience.

Persons with questions or concerns regarding adviser conduct or performance might reasonably want to contact a proven securities law attorney for advice and, when necessary, strong legal advocacy aimed at fully protecting their legal rights and interests.

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