It's a crooked controlled system. Fines accessed f
Post# of 11036
Posted On: 01/28/2016 8:08:00 AM
It's a crooked controlled system. Fines accessed for the crimes go in the pockets of regulators not shareholders who were damaged.
Slap on the wrist fines with the disclaimer "neither admit or deny"
Who controls finra? The same people that they fine
According to a study by Deborah G. Heilizer and Brian L. Rubin, partners at the Washington, D.C. law firm Sutherland Asbill & Brennan LLP, regulators with NASD and NYSE Regulation (now collectively known as FINRA) obtained supersized fines (i.e., fines over US$1 million) in 35 actions taken in 2005. In 2006, however, that number dropped to 19; furthermore, the number of enforcement actions over US$5 million also fell. In 2005, there were seven such actions as opposed to three in 2006. According to the written report, the "data suggest that securities regulators may have retrenched their efforts to regulate through the use of novel theories."[13]
FINRA collected fines against financial firms totaling US$25.9 million in 2008, a third straight annual decline in fines levied by FINRA or one of its predecessor agencies. The 2008 total was 82% below the US$148.5 million in fines collected in 2005. According to FINRA, the fines levied in 2009 were 47.6 million, declining slightly to $42.2 million in 2010 and then expanding to $71.9 million for 2011.[14]
Slap on the wrist fines with the disclaimer "neither admit or deny"
Who controls finra? The same people that they fine
According to a study by Deborah G. Heilizer and Brian L. Rubin, partners at the Washington, D.C. law firm Sutherland Asbill & Brennan LLP, regulators with NASD and NYSE Regulation (now collectively known as FINRA) obtained supersized fines (i.e., fines over US$1 million) in 35 actions taken in 2005. In 2006, however, that number dropped to 19; furthermore, the number of enforcement actions over US$5 million also fell. In 2005, there were seven such actions as opposed to three in 2006. According to the written report, the "data suggest that securities regulators may have retrenched their efforts to regulate through the use of novel theories."[13]
FINRA collected fines against financial firms totaling US$25.9 million in 2008, a third straight annual decline in fines levied by FINRA or one of its predecessor agencies. The 2008 total was 82% below the US$148.5 million in fines collected in 2005. According to FINRA, the fines levied in 2009 were 47.6 million, declining slightly to $42.2 million in 2010 and then expanding to $71.9 million for 2011.[14]
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