Finra Reports Jump in Fines in 2020, Net Income of $20M
June 29, 2021 by Alex Padalka
The Financial Industry Regulatory Authority collected around 43% more in fines in 2020 than in the prior year while reporting nearly $20 million in net income.
The industry’s self-regulator posted net income of $19.8 million in 2020, after reporting a net loss of $45.9 million in 2019, according to the regulator’s 2020 annual financial report.
That was driven in party by higher revenues “due primarily to higher trading volumes and a large number of public offerings, partially offset by an increase in operating expenses and lower interest and dividend income,” Finra president and CEO Robert Cook says in the report.