Tr?id=566623520170033&ev=PageView&noscript=1

Surge Predicted in Regulation Best Interest Cases

Posted on April 23rd, 2024 at 1:13 PM
Surge Predicted in Regulation Best Interest Cases

From the desk of Jim Eccleston at Eccleston Law 

According to a recent analysis, Reg BI-related actions quickly have ascended to the top five issues for FINRA, with fines totaling $6 million in 2023.

As reported by WealthManagement.com, spoofing has emerged as the top issue in fines, driven by a landmark $24 million penalty against Bank of America. Trade reporting violations and anti-money laundering/Bank Secrecy Act infractions also featured prominently in FINRA's enforcement actions.

Although total fines and penalties increased substantially in 2023, large fines, such as the Bank of America penalty, partly inflated this surge. Excluding such outliers, the actual increase in fines was a more modest 19 percent.

 

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

Tags: eccleston, eccleston law

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

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

John T.

LATEST NEWS AND ARTICLES

1787592120 Law
August 24, 2026
Sophisticated Voice Phishing Attacks Target Major Wall Street Firms

According to ThinkAdvisor, hackers recently launched a series of sophisticated cyberattacks against major Wall Street firms, including prominent hedge funds and private equity companies.

1787342003 Law
August 21, 2026
Rising Market Leverage Raises Concerns About Financial Stability Despite Low Volatility

The leverage that has helped drive the U.S.

1787244289 Law
August 20, 2026
FinCEN Imposes Record $125 Million Penalty on UBS Financial Services

The Financial Crimes Enforcement Network (FinCEN) has imposed a $125 million civil money penalty against UBS Financial Services Inc.