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.

finra 2020 top enforcement issues


FINRA Audit Guide