A record year of FINRA enforcement activity heralds heightened scrutiny on a bevy of issues including cybersecurity, anti-money laundering policies and protection for senior clients, legal and regulatory experts caution.
Analyzing the regulator’s 2016 enforcement actions, New York law firm Eversheds Sutherland found that while the total number of cases the industry regulator brought last year dipped slightly from 2015, the monetary fines it assessed nearly doubled to $176 million.
That figure was far and away a record for FINRA penalties, and amounted to a 529% increase since 2008, according to Eversheds Sutherland’s analysis.
‘Enforcement 40’ for 2020
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