Firms We Regulate (2024)

FAQs

How many firms does FINRA regulate? ›

Who We Are. FINRA is a not-for-profit, non-governmental regulator for all broker-dealer firms and brokers that sell securities in the United States. We regulate approximately 3,500 firms and 620,000 brokers across the country.

FINRA FINANCIAL INDUSTRY REGULATORY AUTHORITY is authorized by Congress to protect America's investors by making sure the broker-dealer industry operates fairly and honestly.

Based on their assets under management (AUM), the biggest four brokerage firms in the U.S. are Charles Schwab, Vanguard, Fidelity, and JP Morgan. Below is a short analysis of each brokerage's products, services, and fee structures as of June 2024. They are listed in no particular order.

Regulated by FINRA Chicago Office

RANDOLPH STREET SUITE 5500 CHICAGO, IL 60601-6436 2 ©2024 FINRA. All rights reserved. Report about KPMG CORPORATE FINANCE LLC Page 5 www.finra.org/brokercheck User Guidance This section provides information relating to all direct owners and executive officers of the brokerage firm.

JPMS is a broker/dealer registered with the Securities and Exchange Commission (“SEC”) and is a member of the New York Stock Exchange, Financial Industry Regulatory Authority (“FINRA”), and the Securities Investor Protection Corporation (“SIPC”).

FINRA Regulates Broker-Dealers, Capital Acquisition Brokers and Funding Portals. A Broker-Dealer is in the business of buying or selling securities on behalf of its customers or its own account or both.

There are numerous agencies assigned to regulate and oversee financial institutions and financial markets in the United States, including the Federal Reserve Board (FRB), the Federal Deposit Insurance Corp. (FDIC), and the Securities and Exchange Commission (SEC).

FINRA primarily regulates brokerage firms and professionals, while the SEC has a broader mandate, overseeing the entire securities industry, including public companies and investment advisors.

Deloitte Corporate Finance LLC (DCF), a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and member of the "http://www.finra.org/" Financial Industry Regulatory Authority (FINRA) and the "http://www.sipc.org/" Securities Investor Protection Corporation (SIPC), is an indirect wholly-owned ...

A billionaire may use some or all of these services, but for buying stocks, they may use a prime brokerage specifically to borrow securities for short selling (making money from stocks when they go down) or borrowing large amounts of money to buy stocks on margin.

What brokerage do most millionaires use? ›

Morgan Stanley has been a FINRA member firm since May 2009. The firm was created through the merger of the Global Wealth Management Group of Morgan Stanley & Co. LLC (CRD No. 8209) and the Smith Barney Division of Citigroup Global Markets Inc.

KPMG LLP is a multi-disciplinary practice authorised and regulated by the Solicitors Regulation Authority (SRA) under registration number 615423.

Measured by revenue, the Big Four global accounting firms include Deloitte, Ernst & Young (EY), PricewaterhouseCoopers (PwC), and Klynveld Peat Marwick Goerdeler (KPMG). The companies provide auditing services, tax, strategy and management consulting, valuation, market research, assurance, and legal advisory services.

FINRA offers 69 hearing venues, including at least one in each state of the United States and one in San Juan, Puerto Rico and Washington, DC.

FINRA has approximately 4,200 employees and operates from Washington, D.C., and New York City, with 20 regional offices around the United States.

Over the period between 2000 and 2020, there were roughly 12% more establishments (offices) than firms. In 2022, the estimated number of real estate brokerages was 142,000, an increase of roughly 68,000 over the past decade.

The SEC was created under the Securities Exchange Act of 1934 and one of its responsibilities is to oversee FINRA, which was created in 2007. FINRA is a self-regulatory organization that oversees and regulates its member's actions.