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The share count and price are redacted, though likely to be somewhere in the $30 billion range. Regardless, that helps put the $70 million fine from yesterday [
by LeifCarrotson 5y ago
The share count and price are redacted, though likely to be somewhere in the $30 billion range. Regardless, that helps put the $70 million fine from yesterday [1] in context.
It was the largest fine in FINRA history, but will it have been worth it? The $65 million fine in December suggests they weren't sufficiently deterred to change.
[1] https://news.ycombinator.com/item?id=27690543 https://news.ycombinator.com/item?id=27690543
- hardtke 5y ago$81B in assets under management vs. Fidelity with $10T? At some point, your revenue is capped at a fraction of a percent of assets under management.
- kgwgk 5y agoIf you have high enough turnover in your account sky is the limit.
- s1artibartfast 5y ago>The $65 million fine in December suggests they weren't sufficiently deterred to change People keep saying this, but the FINRA fine was for actions that took place before the 2020 SEC fine, and the SEC fine was for actions in 2015-18. It's not like they have a time machine.