Here’s How FINRA Spent Its Fine Proceeds In 2021

Posted on July 19th, 2022 at 1:59 PM
Here’s How FINRA Spent Its Fine Proceeds In 2021

The Financial Industry Regulatory Authority (FINRA) imposed fines worth up to $90.1 million in 2021, which was a substantial increase from the $57 million issued in 2020. 

Where did FINRA spend the money? FINRA utilized $9 million to further develop the tools and systems it uses for exams, investigations, and disciplinary programs, according to a recent FINRA report. Further, FINRA spent $11.4 million to modernize and sharpen the systems and tools underlying enforcement investigations and disposition processes. FINRA additionally invested $6.3 million to strengthen the technology that supports the platform FINRA examiners utilize to manage their projects. 

FINRA also invested 11.8 million in a multi-year initiative to integrate the Consolidated Audit Trail (CAT) data into its surveillance and CAT compliance programs. The initiative is set to be completed in 2022, according to FINRA. FINRA spent an additional $3.9 million on developing investor education programs.

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, FINRA, fines

Return to Archive

TESTIMONIALS

Previous
Next

You guys are good!

Mike L.

LATEST NEWS AND ARTICLES

September 11, 2025
Montana Federal Judge Allows Family's Premium Financing Claims to Proceed

A federal judge in Montana has allowed a family to move forward with negligence, fraud, and unjust enrichment claims tied to a premium-financed life insurance arrangement valued at $67.5 million.

September 10, 2025
Arizona Man Sentenced to 30 Years for Multi-Million Dollar Ponzi-Style Fraud

An Arizona man has been sentenced to 30 years in prison for running a Ponzi-style investment scheme that defrauded more than 100 victims out of millions of dollars, according to the U.S. Attorney’s Office for the District of New Mexico.

September 9, 2025
Easterly ROCMuni Fund's Steep Decline Spurs Potential Investor Lawsuits

The Easterly ROCMuni High Income Municipal Bond Fund (RMHIX) has suffered a dramatic collapse, losing nearly half its value in June and now trading at a net asset value (NAV) of $2.95 per share.