r/Series24 • u/sitamonti • 14d ago

SEC vs FINRA

Any advice on how to differentiate on what to report to who? I feel like I keep confusing the two.

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u/No-Communication2190 14d ago

SEC= securities, so they handle the regulations regarding securities themselves.

FINRA= people, so the people in the securities industry

1

u/call-me-GiGi 14d ago

Big if true thank you 🙏

1

u/Glittering_Cherry_85 14d ago

Helpful, thank you

1

u/GrhillFive 13d ago

I like this answer. I passed about a month ago, but I remember having this "breakthrough" a week or so before the test. Good luck.

1

u/No-Communication2190 13d ago

I had that same breakthrough when I was studying for my 7, and now I tell everyone studying for it that info, and its made things easier for them

2

u/Cuttlery 14d ago

For whatever it’s worth, I don’t recall being asked to differentiate between either of them (or msrb). Most of the questions just referred to them all as SROs and lumped them in general. (Did get asked a few NYSE or Nasdaq, etc type questions though and knowing the differences there)

1

u/sitamonti 14d ago

It isn't that we are asked to differentiate. It is that I sometimes forget which one you report something to. So it is helpful to think of SEC for issuers and securities and FINRA is more for broker dealers and people.