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US SEC's tightening of restrictions on brokerages with misconduct history draws Democratic commissioners' praise

( August 2, 2021, 15:48 GMT | Official Statement) -- MLex Summary: The US Securities and Exchange Commission’s approval of a Finra proposal to impose new obligations on brokerages with a “significant history of misconduct,” as well as firms that employ individual brokers with misconduct histories, will help protect investors, said Democratic SEC commissioners Allison Herren Lee and Caroline Crenshaw. The Financial Industry Regulatory Authority, the brokerage self-policing group that is overseen by the SEC, also plans to seek commission approval soon for a plan to publicly disclose the names of these high-risk firms. Finally, the Democratic commissioners’ statement praised Finra’s commitment to working with state securities regulators to share information about firms with misconduct histories.See statement and documents below....

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