FINRA slammed registered reps and their firms with hefty fines in 2014, the stiffest they've seen since the financial crisis, according to an analysis by law firm
In 2014, the regulator meted out roughly
In addition to paying fines, firms and registered reps were ordered to fork over a record
"FINRA's large increase in fines cannot be ignored,"
The fines were considerably larger than in previous years, with 25 in the amount of
The increase in fines was especially dramatic in cases involving seniors and retirees, soaring to
While fines were up, the number of disciplinary actions overall declined in 2014, falling 9% to 1,397 from 1,535 in 2013.
Fewer actions, however, didn't bring down the number of reps either barred or suspended from the industry. In 2014, FINRA expelled 481 reps from the industry and suspended 705, up 12% and 5%, respectively, from 2013.
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