Posted On: 06/22/2014 12:15:55 AM
Post# of 5789
PRESSURE ON FINRA TO ISSUE HIGHER FINES
The Financial Industry Regulatory Authority didn’t discipline any Wall Street executives in the five years leading up to 2013 — and the pressure is mounting on the Wall Street watchdog to toughen up. WSJ’s Jean Eaglesham: “Finra, an industry-funded regulator, levied big penalties during that period at a rate that badly trailed the Securities and Exchange Commission, according to an analysis by The Wall Street Journal of the two regulators’ enforcement actions. Finra imposed fines of $1 million or more 55 times through 2013, or less than once a month on average, compared with 259 times for the SEC over the same period, the analysis showed.
“The SEC’s fines against financial firms in that period reached as high as $300 million, dwarfing Finra’s highest of $12 million, the analysis shows.”
http://on.wsj.com/1nRRlLv
The Financial Industry Regulatory Authority didn’t discipline any Wall Street executives in the five years leading up to 2013 — and the pressure is mounting on the Wall Street watchdog to toughen up. WSJ’s Jean Eaglesham: “Finra, an industry-funded regulator, levied big penalties during that period at a rate that badly trailed the Securities and Exchange Commission, according to an analysis by The Wall Street Journal of the two regulators’ enforcement actions. Finra imposed fines of $1 million or more 55 times through 2013, or less than once a month on average, compared with 259 times for the SEC over the same period, the analysis showed.
“The SEC’s fines against financial firms in that period reached as high as $300 million, dwarfing Finra’s highest of $12 million, the analysis shows.”
http://on.wsj.com/1nRRlLv
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