FINRA Fines On a Rapid Rise

Posted on August 13th, 2014 at 9:00 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

During the first half of 2014, FINRA has reported fines against broker-dealers and associated persons in the amount of $42.4 million, compared to $23 million during the first half of 2013, and $57 million for the entire year of 2013.

However, the number of disciplinary actions reported by FINRA has declined to 558 for the first six months of 2014 from 597 for the same period last year.

 FINRA reported five fines greater than $1 million through the first half of 2014. One of those cases was the February fine against Brown Brothers Harriman in the amount of $8 million for alleged anti-money laundering compliance failures involving penny stock transactions.

Moreover, there have been 61 cases regarding books and records violations, resulting in $13.7 million in fines, and 92 cases of trade reporting violations resulting in $6.7 million in fines.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston


Return to Archive



I am so blessed to have you and your dynamic team defending me. Your ethics, forward thinking and strategies are amazing.  You guys are the best group of attorneys in the country that I could hire to handle this complicated case.

Cindy C.


May 19, 2022
UBS Advisor Joins U.S. Capital After Contentious Compliance Review

A UBS Wealth Management advisor who generated $3 million in annual revenue has joined U.S. Capital Wealth Advisors, which is a regional Texas-based firm run by a former UBS manager.

May 18, 2022
Some Advisors Chose Inopportune Time To Boost Bet On GWG Bonds

Financial advisors who chose to double down on GWG are having second thoughts.

May 17, 2022
Focus Financial Board Member Sues J.P. Morgan Over $7 Million In Pandemic Losses

A California dermatologist, who also is a Focus Financial Partners board member, has filed a $7 million arbitration claim against J.P. Morgan over pandemic-related losses in a managed account.