Chasing “Extraordinary Cooperation” Credit in FINRA Investigations
Action Alert
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October 24, 2019
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FINRA’s recently issued guidance on potentially qualifying actions during an investigation for “extraordinary cooperation” credit seeks to clarify what a member could do to earn a reduction in fines and/or sanctions. While any guidance is helpful, seasoned professionals know that for each successful application for such credit, there are several failed applications where members did all they could think of to cooperate but reaped no discernable discount in penalties or sanctions.
FTI Consulting’s Broker-Dealer Regulatory Practice can advise and assist in all phases of a FINRA investigation, from disclosure to scoping, correction and remediation. Our expertise and thorough documentation can be the tipping point in a successful bid for credit.
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Our multidisciplinary approach combines our broker-dealer expertise with world-class investigations and data analytics practices to deliver the best possible outcome for a FINRA inquiry.
Published
October 24, 2019
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