Wall Street Is Furious Over Rising Fines From SEC – WSJ

Wall Street is feeling the pain of inflation—at the tills of its regulators.

Big banks and brokerage firms are handing over bigger checks to settle regulatory investigations, including those that don’t result in losses for investors. U.S. market regulators are increasingly demanding tens of millions of dollars to settle technical violations that just a few years ago cost companies much less to resolve.

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Defense lawyers and some legal scholars said Gensler’s SEC is levying fines beyond historical norms. That stance is generating some pushback among defense lawyers and conservative legal groups that are looking for ways to challenge the SEC’s civil-enforcement authority.

Source: Wall Street Is Furious Over Rising Fines From SEC – WSJ