FINRA Fines Q3 2017 - 5 Findings

    

We at MCO keep a close eye on the activities of the regulators. Here we take a look at five findings from FINRA fines in Q3 2017.

1) The third quarter of 2017 saw a total of 94 sanctions brought against firms.

2) A total of five firms were expelled by FINRA in Q3.

3) The largest fine of Q3 was to Wells Fargo for $3.3 million, for making bad recommendations of volatility-linked, exchange-traded products (ETPs).

4) There were $21.1 million in fines and $5.8 mil in restitution, resulting in a total of $26.9 million in sanctions for Q3 2017.

5) The average for a fine in Q3 was $223,962. This is up 149% from last quarters average ($90,024).

Interested in more? Watch our Webinar, "SEC & FINRA Priorities 2017: A Midyear Update"

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You can access the official FINRA disciplinary records here.

 

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