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



Thank you for your professional assistance with this matter. You are very good at what you do.

John T.


October 27, 2021
Former LPL Advisor Suspended For Completing 22 Trades Absent Client Consent

The Financial Industry Regulatory Authority (FINRA) has suspended and fined a former LPL advisor who allegedly completed 22 trades on behalf of a client without obtaining written consent. FINRA has issued a $5,000 fine and has suspended Michael Hartlett for 10 days.

October 26, 2021
Former Advisor Fails To Reverse Bar After Alleged $1 Million Theft From RBC

A former RBC Wealth Management advisor lost his bid to reverse an industry bar, according to an appellate decision issued by the Financial Industry Regulatory Authority (FINRA).

October 25, 2021
Firms Walk Thin Regulatory Line In Referring Self-Directed Clients To Advisors

While online trading platforms have surged in popularity during the pandemic, brokerage firms view self-directed investors as a source of new clients.