The Financial Industry Regulatory Authority collected some $65 million in fines last year — down sharply from almost $174 million in 2016. But for the first time, the group is sharing details on how those resources were spent.
Along with $1 million in reserves, the regulatory body said these monies were used for capital/initiatives and strategic spending to “promote more effective and efficient regulatory oversight by FINRA or that enable improved compliance by member firms, and capital/initiatives that are required by new legal, regulatory or audit requirements.”