FINRA Fines Q1 2018 - 6 Findings


Here at MCO we keep a close eye on the activities of regulators. Read the highlights here; FINRA fines in Q1 2018 - 6 Findings.

1) Q1 has seen FINRA hand out a total of $33.7 million in fines against member firms and $23.1 mil in restitution back to customers, resulting in a total of $56.8 million for Q1 2018. 

2) This $56.8 mil total is down 67% from 2017's record Q1 (95 mil), however it is still 61% more than both Q3 (26.8 mil) and Q4 (8.5 mil) of 2017's totals combined.

3) Q1 has seen a total of 82 firms sanctioned.

4) The largest fine of the year so far was $13 million in February to Merrill Lynch over AML failures and for 'not filing suspicious activity reports.'

5) There has been a total of 3 firms expelled by FINRA in Q1

6) The average dollar amount per enforcement action (fine and/or restitutions ) was $411,539

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Read our blog post summarizing FINRA Fines in 2017 Subscribe to our blog on the right to keep up to date on everything FINRA, SEC, FCPA & more. 

You can access the official FINRA disciplinary records here.