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Finra Enforcement Actions Rose Sharply in Early 2012

By Colby Adams

The number of fines levied by the U.S. nongovernmental regulator of securities and brokerage firms more than doubled in the first five months of 2012 compared to the same period in 2011. While the fine amounts varied significantly, the Financial Industry Regulatory Authority (Finra) levied 20 anti-money laundering (AML) enforcement actions between January and June. That number compares to only nine such actions levied during the same months in the previous year, when the self-regulatory organization (SRO) issued a total of 41 AML actions. The spike, which builds on a jump beginning in the second half of 2011, roughly coincides...

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