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.
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