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FINRA Fines Surge 43% in 2020

FINRA Fines Surge 43% in 2020, featured by top securities fraud attorneys, The White Law Group

FINRA sees 43% increase in fines, yet disciplinary actions were only up 1% in 2020.

The Financial Industry Regulatory Authority Inc. (FINRA) reportedly had a 43% increase in fines in 2020, according to an article in Investment News citing a study by Eversheds Sutherland (US) Law Firm.

FINRA fines in 2020 increased from  $40 million in 2019, to $57 million in 2020, according to the article, closer to the numbers in 2017 and 2018, when the regulator reportedly ordered $65 million and $61 million in fines, respectively.

FINRA reportedly broke records with its fines in 2016 at $174 million in fines.

According to the law firm, FINRA appears to have focused its priorities on protecting retail investors and targeting anti-money laundering violations.

The regulator reportedly assessed ten fines of $1 million or more, totaling $38.6 million, compared with $28 million in similar fines in 2019.

FINRA Increases Restitution orders In 2020

FINRA also increased its orders of restitution 29% in 2020,  to approximately $36 million, from $28 million in 2019 and $26 million in 2018.

Fines, restitution and disgorgement increased 34% to $94 million from $70 million in total sanctions in 2019. However, the total sanctions in previous years were significantly higher: $124 million in 2018; $150 million in 2017; and $207 million in 2016, according to the article.

FINRA’s disciplinary actions didn’t move much in 2020, according to the article. They were up just 1% in 2020 to 595 from 591 in 2019.

The foregoing information, which is all publicly available, is being provided by The White Law Group.

The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois. 

We represent investors in FINRA arbitration claims in all 50 states. If you are concerned about your investments, please call the securities fraud attorneys at The White Law Group at 888-637-5510 for a free consultation.

 For more information, please visit our website, www.whitesecuritieslaw.com.

Tags: , , , Last modified: January 30, 2023