Sutherland Partners reviewed FINRA’s monthly disciplinary notices and found that in 2012 FINRA brought slightly more disciplinary actions but assessed a double-digit increase in fines. This was the fourth consecutive year of increase in the number of cases filed and the second straight year of growth in the amount of fines. Sutherland also identified the top enforcement issues for FINRA in 2012, as well as emerging trends.
Advertising was the fourth-biggest fine generator in 2012. FINRA reported 50 cases involving alleged advertising violations in 2012, which resulted in fines of $10.4 million. This is an 11% increase over 2011. Please click here for the full survey.
With the recent fines to LPL for failure to archive all emails, firms need to ensure that they also capture all advertising and archive it. Red Oak Compliance Solutions has a technology solution, AdMaster to help you with all your advertising review needs. Take that next step to ensure you are covered and can respond appropriately to all regulatory requests. Call us today for a demo of AdMaster.