FINRA’s 5 biggest fine categories in 2014
February 20, 2015 by Melanie Waddell
The Financial Industry Regulatory Authority (FINRA) imposed approximately $135 million in fines in 2014, a whopping 125 percent jump from the $60 million in fines the regulator assessed in 2013, and the largest amount of fines since the financial crisis in 2008, according to a just-released analysis by the law firm Sutherland Asbill & Brennan.
Fines by the self-regulator increased by 382 percent since FINRA reported assessing $28 million in fines in 2008, said Sutherland, which bases its findings on information revealed in FINRA’s monthly disciplinary notices and press releases, as well as cases reported in major news sources.
Most notable is the $8 million in fines assessed in 2014 from cases involving allegations about seniors and retirees, an astounding increase of 3,656 percent from the $213,000 in fines imposed in similar cases in 2013, Sutherland found. Click here to read…
