FINRA Projects 2020 Operating Revenue to Remain the Same

Posted on May 11th, 2020 at 4:14 PM
FINRA Projects 2020 Operating Revenue to Remain the Same

From the Desk of Jim Eccleston at Eccleston Law LLC:

The Financial Industry Regulatory Authority (“FINRA”) is projecting that its operating revenue will be approximately $868.9 million, which would be roughly equal to FINRA’s 2019 operating revenue.  FINRA does expect revenue from regulatory fees to increase in 2020. Meanwhile, operating expenses are expected to increase by 2.8%. If these projections are accurate, FINRA’s expenses will exceed its operating revenue and FINRA may need to tap into its reserves, which currently sit at $210.2 million. 

FINRA will release a full budget summary this summer, which will provide more detailed information on how FINRA will use these funds. The budget, which was developed and approved by FINRA’s Board of Governors prior to the COVID-19 pandemic, may require some adjustments to address issues that have arisen as a result of the pandemic. FINRA’s planned 2020 budget included $36.1 million to implement new initiatives, including transforming its continuing education program and $80 million for “one-time extraordinary initiatives.”

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today. 

Related Attorneys: James J. Eccleston

Tags: eccleston, eccleston law, james eccleston, finra, operating revenue, covid-19

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