Despite Some Skepticism, Brokers Have Plenty of Suggestions for `Modernizing' Finra's Rules

Also, Fed sets vote on key big bank capital rule change; stablecoin bill passes the Senate

Finra’s much-promoted plan to “modernize” its rules has been met with skepticism (and some derision) from critics who see the effort as an attempt to shore up the self-regulator’s standing with Republicans as it faces existential threats. The new endeavor, they note, comes on the heels of lawsuits challenging the front-line brokerage overseer’s constitu…