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Posts Tagged ‘Sutherland Asbill and Brennan’

Wall Street’s Greatest Racket: FINRA’s ‘Meter Maids’

Posted by Larry Doyle on February 25th, 2014 6:45 AM |

In 2013 the six largest banks on Wall Street generated profits of $76 billion.

Last year, Wall Street’s primary self-regulatory organization FINRA imposed fines of $57 million.

Anybody still wondering why Wall Street likes being a self-regulated industry? Is Wall Street this clean or are the regulators little more than meter maids, as I have long maintained? Thanks to the folks at Sutherland Asbill & Brennan, let’s look at the fines imposed by FINRA last year and over the last 9 years (including the years prior to FINRA’s formation in 2007 as a result of the merger of the NASD and the regulatory arm of the NYSE):

Numbers don’t lie.¬† (more…)






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