Emmet Ong discusses letter to FINRA with PlanSponsor

Emmet Ong, a partner in BCLP's Financial Services Disputes and Investigations practice, recently spoke with PlanSponsor about a letter written by U.S. Senators Elizabeth Warren and Ron Wyden to the Financial Industry Regulatory Authority (FINRA) urging the brokerage industry’s self-regulator to require firms enable customers to lock their accounts to help fight fraud. His comments were also published by PlanAdviser.

In the article, Emmet discussed the letter and what can be done to proactively address a potential response to the letter and an eventual rule from FINRA.

Emmet told PlanSponsor the letter "tells FINRA that it should put in a rule that requires brokerage firms to put in additional safety measures,” and  “urges the industry itself to take its own safety precautions in the absence of a rule.”