Finra creates Office of the Whistleblower
The Financial Industry Regulatory Authority Inc. has created the Office of the Whistleblower to expedite the review of “high-risk” tips.
The Financial Industry Regulatory Authority Inc. has created the Office of the Whistleblower to expedite the review of “high-risk” tips.
The office will deliver a rapid response on tips that seem to have merit, the New York and Washington-based policing agency for the securities industry said in its announcement.
“This new initiative will ensure that individuals with significant information will reach senior staff, who can quickly assess the level of risk involved and make sure that each tip is properly evaluated,” Stephen Luparello, interim chief executive of Finra, said in the release.
The new number for whistle-blowers is (866) 963-4672, or they can e-mail their information using the website finra.org/whistleblower.
The office will be overseen by Cameron Funkhouser, senior vice president.
The whistle-blower program will not replace the agency’s current process for handling regulatory tips and complaints, the agency said.
Finra each year receives between 4,500 and 6,000 investor complaints, which are reviewed by its Front End Cause Unit.
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