Tag Archives: Fines

FINRA details use of fines collected in 2018

By Mark S. Nelson, J.D. According to a report issued by the Financial Industry Regulatory Authority, Inc., the U.S.’s self-regulatory organization responsible for broker-dealer oversight spent $81.1 million on a variety of capital and strategic initiatives and on investor education … Continue reading

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The FCA fines an individual for failing to observe proper standards of market conduct and on similar facts issues its first formal decision under its competition powers against three asset management firms

On 21 February 2019, the FCA fined two asset management firms for breach of competition law.  No fine was imposed on the other asset management firm, Newton Investment Management Limited (Newton), as it had been given immunity under the competition … Continue reading

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The Supreme Court Rightly Cited the Black Codes in Ruling Against Excessive Fines, Fees, and Forfeitures

The justices held that the Eighth Amendment protects people from state and local authorities’ abusive reliance on monetary penalties to raise money. Last week, the U.S. Supreme Court issued a rare unanimous ruling in Timbs v. Indiana, holding for the … Continue reading

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GDPR Enforcement Update: Increasing Fines Expected from German DPAs

Many companies have been struggling with GDPR implementation over the past two years, putting much effort into new roles, privacy concepts, and workflows. Now that the dust of the immediate GDPR compliance rush is settling, the first details of fines … Continue reading

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An Approach for Setting Administrative Fines Under the GDPR

Article 83 of the GDPR provides for two levels of administrative fines: a lower level – maximum of €10 million or 2% of the global turnover – for violations relating to record-keeping, data security, data protection impact assessments, data protection … Continue reading

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