Posted On: 01/06/2016 11:31:57 AM
Post# of 72446
For those that want to know more about the integrity of our markets and our brokerage firms:
FINRA orders Wall St. brokerages to return $96.2 million for 2015
Reuters
17 hours ago
(Reuters) - Wall Street's industry funded watchdog ordered brokerages to return an estimated $96.2 million in funds they obtained through misconduct during 2015, nearly three times the 2014 total, according to preliminary statistics released on Tuesday.
Fines collected by the Financial Industry Regulatory Authority (FINRA) from individuals and firms, however, declined to an estimated $93.9 million in 2015 from $134 million in 2014, the regulator said.
A $43.5 million fine that FINRA levied against 10 investment banks in late 2014 was a significant factor in the drop in overall fines last year, FINRA said.
The banks had agreed to the sum to settle allegations that they offered favorable research coverage in exchange for underwriting business in connection with an initial public offering for Toys R Us, a Wayne, New Jersey-based toy and baby products retailer.
FINRA estimated a 4.7 percent rise in filings of new disciplinary actions in 2015 to 1,462, up from 1,397 a year earlier.
FINRA also said it barred 492 individuals and expelled 25 firms during the year, while suspending 737 individuals and 1 firm.
(Reporting by Abhirup Roy in Bengaluru and Suzanne Barlyn; Editing by Maju Samuel and Alan Crosby)
http://news.yahoo.com/finra-orders-wall-st-br...NlYwNzYw--
FINRA orders Wall St. brokerages to return $96.2 million for 2015
Reuters
17 hours ago
(Reuters) - Wall Street's industry funded watchdog ordered brokerages to return an estimated $96.2 million in funds they obtained through misconduct during 2015, nearly three times the 2014 total, according to preliminary statistics released on Tuesday.
Fines collected by the Financial Industry Regulatory Authority (FINRA) from individuals and firms, however, declined to an estimated $93.9 million in 2015 from $134 million in 2014, the regulator said.
A $43.5 million fine that FINRA levied against 10 investment banks in late 2014 was a significant factor in the drop in overall fines last year, FINRA said.
The banks had agreed to the sum to settle allegations that they offered favorable research coverage in exchange for underwriting business in connection with an initial public offering for Toys R Us, a Wayne, New Jersey-based toy and baby products retailer.
FINRA estimated a 4.7 percent rise in filings of new disciplinary actions in 2015 to 1,462, up from 1,397 a year earlier.
FINRA also said it barred 492 individuals and expelled 25 firms during the year, while suspending 737 individuals and 1 firm.
(Reporting by Abhirup Roy in Bengaluru and Suzanne Barlyn; Editing by Maju Samuel and Alan Crosby)
http://news.yahoo.com/finra-orders-wall-st-br...NlYwNzYw--
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