FYI: Financial Industry Regulatory Authority fines have been climbing for the past decade. Last year the brokerage industry saw a dramatic year-over-year increase in the Finra fines against broker-dealers, hitting a record and totaling a staggering $173.8 million in fine revenue in 2016, an 85% increase from $93.8 million the year before. While the final tally of Finra fines for 2017 is still being counted, Finra whacked plenty of firms with big fines, along with orders to repay clients their money. InvestmentNews tracked 10 of the most significant for 2017.
Regards,
Ted
1. Red River Securities ($24.6 million)
2. Merrill Lynch ($13 million)
3. Morgan Stanley ($13 million)
4. Citigroup ($11.5 million)
5. Purshe Kaplan Sterling ($4.2 million)
6. Wells Fargo ($3.4 million)
7. J.P. Morgan ($2.8 million)
8. Raymond James ($2 million)
9. Merrill Lynch ($1.4 million)
10.J.P. Morgan ($1.25 million)
http://www.investmentnews.com/gallery/20171228/FREE/122809999/PH
