Finra Enforcement Actions Decline as Regulator’s Budget, Headcount Expand – Bloomberg

Two days after Christmas, a prominent Wall Street regulator updated a database with news of interest to the industry: A $1.4 trillion brokerage had been slapped with one of the year’s biggest fines for allegedly losing track of almost a million trades.

But there was no press release when the Financial Industry Regulatory Authority hit LPL Financial Holdings Inc. with the $6 million penalty. Nor did Finra seek attention for its multimillion-dollar sanctions of Goldman Sachs Group Inc. and Barclays Plc months earlier.

The quiet end to those probes capped a year in which the number of enforcement actions brought by the brokerage industry’s self-funded regulator slid to the lowest level in its history. Total fines picked up last year but are down by about half since a peak in 2016. Meanwhile, Finra’s headcount and budget have expanded.

Source: Finra Enforcement Actions Decline as Regulator’s Budget, Headcount Expand – Bloomberg