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

You are the best attorneys in the country.

CC

LATEST NEWS AND ARTICLES

1794596228 Law
November 13, 2026
Snowden Lane Partners to Pay $364,590 Over Undisclosed Conflicts and Misleading Client Agreements

Snowden Lane Partners will pay $364,590 to settle Securities and Exchange Commission (SEC) charges that it failed to disclose compensation arrangements tied to client cash sweep investments and margin loans.

1794509056 Law
November 12, 2026
SEC Issues its 2026 Enforcement Report

The Securities and Exchange Commission (SEC) filed 348 enforcement actions in fiscal year 2026, including 235 standalone actions and 113 follow-on administrative proceedings.

1794418115 Law
November 11, 2026
Morgan Stanley Develops AI Super Agents to Build Portfolios and Manage Client Accounts

Morgan Stanley is developing AI-powered "super agents" that could eventually build investment portfolios, manage client accounts and handle many of the routine tasks that wealth management professionals perform today.