Which entity is not an MSRB enforcement body for bank dealers?

• A. Office of Comptroller of Currency
• B. Federal Reserve Board
• C. Federal Deposit Insurance Corporation
• D. FINRA

Answer: (D)

Bank dealers are overseen by banking regulators rather than the securities SRO when it comes to enforcing MSRB rules. If a bank is nationally chartered, the Office of the Comptroller of the Currency enforces MSRB rules for that bank; if a bank is a member of the Federal Reserve System, the Federal Reserve Board enforces them; and for insured state banks, the FDIC handles enforcement. FINRA, on the other hand, enforces MSRB rules for broker-dealers that are FINRA members, typically non-bank entities. For bank dealers, FINRA is not the primary MSRB enforcement body, which is why FINRA is not the enforcement authority in this context.