Chapter One
Customer Accounts and Customer Trades
Since the 1930s, the federal government has regulated broker-dealers and any of their personnel having direct contact with the public. The Financial Industry Regulatory Authority (FINRA) was given the responsibility to register broker-dealers and certain employees and to guide and monitor their behavior. With the financial crisis of 2008 and the industry scandals that came with it, FINRA saw a need to expand its regulatory authority and govern back-office personnel