AES Launches Its â€œAmerica Must Know Its Entrepreneurial Regulatorsâ€ Campaign.
April 7, 2010 - The Alliance for Economic Stability, Inc. (â€œAESâ€), a non-profit economic policy organization whose web site is located at www.eally.org and www.eallies.org, has launched a media campaign called â€œAmerica Must Know Its Entrepreneurial Regulators,â€ in response to comments in a Reuters article published April 1, titled â€œWall St Watchdog Wonâ€™t Roll Over: FINRA CEO.â€
Americans go about their daily business unaware of what FINRA is and how it affects their lives. Yet no private or government organization anywhere in the world has FINRAâ€™s troublesome combination of court-granted absolute immunity, wholly unsupervised administrative authority and inherent conflicts-of-interest. This allows dangerous abuse of power without accountability to the government or the public.
Alliance for Economic Stability Urges Financial Crisis Inquiry Commission to Investigate FINRA.
April 12, 2010 - The Alliance for Economic Stability (â€œAESâ€) today released publicly a letter to the Financial Crisis Inquiry Commission (â€œFCICâ€), a body set up by the U.S. Congress to investigate the causes of the financial crisis, urging an investigation of FINRA, a self-regulatory organization.
The letter states that the AES hopes the FCIC will thoroughly investigate the responsibilities and failures of FINRA in allowing the practices that were the most direct cause of the financial crisis.
Little known to most Americans, FINRA is the nationâ€™s largest financial regulator and the organization with the most direct day-to-day oversight of financial firms. However, FINRA has garnered no visible attention from legislators and other government officials as they consider changes to the financial regulatory system.