FINRA Trumpets Record Cases, Insider Trading Tips In 2012

Law360, New York (January 8, 2013, 4:19 PM EST) -- The Financial Industry Regulatory Authority in 2012 filed 1,541 disciplinary actions and made 347 referrals of alleged insider trading to the U.S. Securities and Exchange Commission and other enforcement agencies, setting record figures, the self-regulatory body said Tuesday.

The insider trading tips were among 692 fraud claims referred by FINRA’s Office of Fraud Detection and Market Intelligence, or OFDMI, a surveillance unit created in 2009, FINRA said. The securities industry’s self-regulatory agency also said it levied $68 million in fines and won a record $34 million...
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