NAIFA has suggested ways for the Financial Industry Regulatory Authority (FINRA) to promote diversity, equity, and inclusion (DEI), and the association’s ideas have gained notice.

In an article this week, the influential industry publication ThinkAdvisor has highlighted suggestions made by NAIFA Senior Vice President for Government Relations Diane Boyle and Policy Director Maeghan Gale. Among the NAIFA ideas called out by ThinkAdvisor are:

• Requiring FINRA-licensed advisors to renew their licenses every five years, rather than every two years. This would better accommodate “working mothers who wish to take time off to care for children” and then return to the workforce.
• Promoting more diverse hiring at financial services firms by expanding “offerings of FINRA exams without sponsorship requirements.”
• Offering FINRA exams in languages other than English.

FINRA asked industry leaders and organizations for comments on DEI matters earlier this year, and these suggestions and others were included in NAIFA’s response.

NAIFA works with FINRA and other regulators to promote the interests of financial professionals and consumers, including the goals of promoting DEI in the industry and ensuring all Americans have access to important insurance and financial products, services, and advice.