On June 22, National Futures Association (NFA) issued Notice I-20-26 announcing that the recent amendments made to Part 3 of its Compliance Rules will become effective on August 31, 2020. NFA Compliance Rule 3-14 was amended to allow an NFA disciplinary panel to impose a monetary penalty of up to $500,000 per rule violation at
FINRA Releases Report on 2018 Fine Monies
Posted in Broker-Dealer
On April 25, the Financial Industry Regulatory Authority (FINRA) issued a report relating to its use of fine monies collected in 2018. FINRA issued $61.0 million in fines, and incurred $81.1 million in fine-eligible expenditures (i.e., capital initiatives, strategic expenditures and other activities eligible to be funded by fine monies based on FINRA’s Financial Guiding Principles) in 2018. Since the total of fine-eligible expenditures exceeded the amount of fines issued in 2018, the balance of $20.1 million was funded from FINRA’s reserves.
Continue Reading FINRA Releases Report on 2018 Fine Monies