Financial Industry Regulatory Authority (FINRA)
A regulatory body created after the merger of the National Association of Securities Dealers and the New York Stock Exchange's regulation committee. The Financial Industry Regulatory Authority is responsible for governing business between brokers, dealers and the investing public. By consolidating these two regulators, FINRA aims to eliminate regulatory overlap and cost inefficiencies. Investopedia Says:
Originally, FINRA was known as SIRA, or the Securities Industry Regulatory Authority. However, complaints were made about the name, noting that it sounded very similar to the Arabic term "Sirah", the traditional term for biographical texts about Muhammad. Related Terms:
Broker
National Association Of Securities Dealers - NASD
New York Stock Exchange - NYSE
Securities Industry Regulatory Authority - SIRA
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