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.
