A midyear analysis of the disciplinary actions reported by FINRA from January through June 2017 indicates:
- Certain program areas and restitution are up, but fines and the number of disciplinary cases are significantly down
- FINRA appears to be focusing on more “nuts and bolts” issues like trade reporting, record retention, and supervisory policies and procedures
- Despite an overall reduction in fines and the number of disciplinary actions, firms should still concentrate on core issues like suitability and books and records, among others
Additional contributor to this post:
Brian L. Rubin, brianrubin@eversheds-sutherland.com
