At the end of July, the Financial Industry Regulatory Authority (FINRA) turned five years old. The dispute resolution organization for securities cases was created from the combination of the National Association of Securities Dealers and the regulatory function of the New York Stock Exchange (NYSE). And one of FINRA’s 11 district offices is in Dallas.
FINRA has been active. In a midyear review made public on Aug. 9, Sutherland Asbill & Brennan found that FINRA fines and disciplinary actions in 2012 are in line to exceed those in 2011. The review indicates that during the first half of 2012, FINRA levied a total of $39.4 million in fines against broker-dealers and others associated with them. According to the review, 609 cases were reported during the first half of 2012. That means business for Texas lawyers on both sides of securities disputes. Plus, recent high-profile criminal prosecutions in large financial fraud cases R. Allen Stanford and Bernie Madoff are prominent examples lead investors to seek restitution when they lose money in investments.
