Andrew Sidman Quoted in Law360: "FINRA Dangles Cooperation Carrot With Fine-Free Settlements"

July 6, 2015

Publication
Law360

Andrew W. Sidman

 

The Financial Industry Regulatory Authority (FINRA) decided not to levy fines against three broker-dealers that allegedly overcharged certain mutual fund customers. The broker-dealers were required to pay significant settlements to affected customers, but FINRA passed on the penalty because of the ‘extraordinary cooperation’ of the firms.

 

“This is an important precedent…the self-regulatory process working as it should, where not every conceivable violation is met with a fine,” said Andrew Sidman, managing principal of Bressler’s New York office.

 

To read the Law360 article, please click here.