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FINRA 'Inflates' Monetary Sanctions in Sanction Guidelines
FINRA has revised the Sanction Guidelines to reflect the effects of inflation, per a policy established in May 2015. The revised Sanction Guidelines are effective immediately and available on FINRA's website.
In May 2015, the National Adjudicatory Council (NAC) announced a policy of indexing the high-end of the monetary sanctions for each sanction guideline in the Sanction Guidelines to the Consumer Price Index. [See RegNote 15-15.] In addition, the NAC established that FINRA would index the sanction guidelines every 3 years, rounding the fine amounts to the nearest $1,000.
In this adjustment to the fine amounts, the high-end of the monetary sanctions increases by 5.86%, before rounding. The low-end of the monetary sanction ranges in the Sanction Guidelines remains the same.
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