FINRA’s Financial Report: What Brokers Should Know
FINRA released its 2021 Annual Financial Report, which details the regulator’s finances and enforcement program. FINRA’s enforcement reported $103 million in fines, $47 million in restitution to harmed investors, 1 firm was expelled, 386 brokers were suspended, and 269 brokers were barred. Significantly, FINRA made 2,390 referrals to state, federal, and international regulations.
Jon-Jorge Aras, Partner and Chair of Securities Litigation at Warren Law Group states, “FINRA’s report demonstrates an active enforcement practice, specifically against individual brokers. As a self-regulator, FINRA has expansive tools to obtain documents and information from individuals, who often make the mistake of representing themselves.”
If you are a financial industry professional, it is vital to be cognizant of FINRA’s rules and regulations in order to avoid investigations and enforcement actions. To schedule your consultation with the experienced regulatory attorneys at Warren Law Group, call (866) 954-7687 or email email@example.com.