Wall Street regulator FINRA toughens its sanctions guidelines

May 12, 2015 2:34 PM

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WASHINGTON May 12 Wall Street's self-policing body unveiled tough new sanctions guidelines on Tuesday that call for stricter penalties against defendants who commit fraud or violate suitability rules.

The new guidelines by the Financial Industry Regulatory Authority's National Adjudicatory Council now call for possibly expelling firms or barring individuals who commit fraud, and increasing the range of suspensions from one to two years against brokers who sell products that are not suitable to re...

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