Jacob Frenkel was quoted recently in AdvisorHub's article, "Finra Dusts Off Sanction Guidelines, Eliminates Suggested Fine Cap."
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Jacob Frenkel was quoted recently in AdvisorHub's article, "Finra Dusts Off Sanction Guidelines, Eliminates Suggested Fine Cap." The article discusses the FINRA’s updated sanction guidelines used by its Division of Enforcement to determine appropriate fines or penalties to levy on firms and individual brokers. Jacob’s express concern is less the available range of fines but the judgment of those who determine penalties. He believes that formulaic approaches to sanctions are only meaningful when those who make the sanction recommendations and decisions employ discretion and fairness in their decision-making. “This is old news repackaged as news, but at the same time, it’s an important repackaging,” said Jacob. To read the article, click here.
