Here at MCO we keep a close eye on the activities of regulators. Read the highlights; FINRA fines in Q3 2018 - 5 Findings.
1) FINRA has fined a total of 167 firms in Q3, this is 52 less than Q3 2017.
2) The average fine however was much higher in Q3 2018 ($468,880) compared to Q3 2017 ($223,962).
3) The total amount in fines and restitution's for Q3 was $22.6 million
b) This is $4.2 million less than in Q3 2017.
4) The largest fine of the year so far remains the $13 million fine in February to Merrill Lynch over AML failures and for 'not filing suspicious activity reports.'
5) There has been a total of 7 firms expelled by FINRA in Q3.
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You can access the official FINRA disciplinary records here.
