Updated Mar 25, 2021
According to a new study by Eversheds Sutherland, FINRA disciplinary actions show a surge in enforcement activity in 2020. What caught my eye was a dramatic increase in fines related to variable annuity cases—a 1062% increase! To put that in context, overall fines increased to $57 million from $40 million in 2019, a 43% increase. Top enforcement issues include:
- Books and Records increased 663%
- Trade Reporting increased 400%
- Variable Annuities increased 1062%
- Unregistered Securities increased 609%
Our infographic compares top enforcement issues from 2019 to 2020.