FINRA Income High Due to Increased Fines

The Financial Industry Regulatory Authority (FINRA) doubled its money raised in 2014, according to its own report. FINRA reported $129 million in net income in 2014, and only $1.7 million in 2013. This was because of an increase in revenue and the industry’s efforts to control costs. Their annual report was released Monday. Their average fine increased to $205,600 from $80,100 in 2013. FINRA brought 1,397 in disciplinary actions against member firms and registered representatives and had $132.6 million in fines. In 2013, it had $60.4 million in fines. FINRA barred 481 brokers and 18 firms from the industry in 2014, and it suspended five firms and 705 brokers.

FOX Business
The Wall Street Journal
FOX News Channel
USA Today
abc NEWS
Contact Information