Finra Reports Jump in Fines in 2020, Net Income of $20M

June 29, 2021 by Alex Padalka

The Financial Industry Regulatory Authority collected around 43% more in fines in 2020 than in the prior year while reporting nearly $20 million in net income.

The industry’s self-regulator posted net income of $19.8 million in 2020, after reporting a net loss of $45.9 million in 2019, according to the regulator’s 2020 annual financial report.

That was driven in party by higher revenues “due primarily to higher trading volumes and a large number of public offerings, partially offset by an increase in operating expenses and lower interest and dividend income,” Finra president and CEO Robert Cook says in the report.

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Originally Posted at Financial Advisor IQ on June 28, 2021 by Alex Padalka.