FINRA reported that it collected $48.1 million in fines, but had $111.4 million in fines-eligible expenditures. FINRA said that the balance between the monies collected and the expenditures was funded from reserves and excess operating results.
FINRA Executive Vice President of Member Supervision Bari Havlik announced she will retire later this year. Greg Ruppert, currently serving as an EVP and leader of FINRA's National Cause and Financial Crimes Detection Program, will succeed Ms. Havlik in the role effective November 1, 2021.
FINRA reported that it spent $90.2 million for "fines-eligible" expenditures in 2020, including capital initiatives and strategic expenditures, and activities to educate investors and promote firm compliance.
FINRA named Stephanie Dumont as Executive Vice President and Head of Market Regulation and Transparency Services.
FINRA named Scott W. Anderson as Executive Vice President and Head of Market Regulation and Transparency Services.