FINRA - This stands for Financial Industry Regulatory Authority, which is the largest non-governmental regulator for securities firms  (Broker-Dealer)  that conduct business in the United States.

           FINRA is responsible for regulating and overseeing more than 5,000 brokerage firms. It was formed in July of 2007 through the consolidation of NASD and the member regulation, enforcement and arbitration functions of the New York Stock Exchange.

           FINRA, formerly NASD, is dedicated to increasing investor protection and improving market integrity through effective and efficient regulation and complementary compliance and technology-based services.

              As a regulatory body, FINRA has enforcement powers and can levy fines against firms that do not meet its compliance guidelines and rules fo conduct. Pursuant to federal law, FINRA has the authority to discipline securities firms and individuals in the securities industry who violate the rules.  They can fine, suspend or even expel such firms from the industry.

         For more information click here to visit FINRA'a official website.