Trading, Accounts & Prohibited ActsQuestion 218 of 398
Which self-regulatory organization is chiefly responsible for regulating broker-dealers and the over-the-counter securities market in the United States?
a.The Federal Reserve
b.The Depository Trust Company
c.The Securities and Exchange Commission
d.The Financial Industry Regulatory Authority (FINRA)
Explanation
FINRA is the self-regulatory organization that oversees broker-dealers and much of the OTC market, writing conduct rules and enforcing them under SEC oversight. The SEC is the federal government regulator, not an SRO, and the Federal Reserve handles monetary policy and banking.
Law Reference: Securities Exchange Act of 1934Practice all 398 questions free — no signup required.
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