After three years of raking in multi-billions in fines, the Securities and Exchange Commission collected just $1.6 billion in penalties in the year ending September 30. It’s the lowest amount since 2002 (when fines totaled $1.4 billion); it’s also the same year Congress passed Sarbanes-Oxley.
The fall in fines comes after complaints from Republican commissioners and business groups that say the penalties hurt investors, according to a Bloomberg report. Meanwhile, Democrats say the heavy fines deter fraud.
The SEC’s sanctions increased 40 percent after Sarbanes-Oxley was implemented, according to the agency’s data. Click here
to read the full Bloomberg story.
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This reference book was updated for 2008 and now contains over 900 pages of information on essential financial concepts and wealth management strategies for your work with wealthy clients. The book not only contains brief summaries of each topic, but it also contains many useful diagrams and charts that can be used with clients when explaining difficult financial concepts. The information in this book meets current FINRA/NASD guidelines....
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