{"id":1092,"date":"2012-07-14T18:19:43","date_gmt":"2012-07-14T18:19:43","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2012\/07\/finra_sustained_841m_net_loss"},"modified":"2022-03-09T16:20:31","modified_gmt":"2022-03-09T22:20:31","slug":"finra-sustained-841m-net-loss","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-sustained-841m-net-loss\/","title":{"rendered":"FINRA Sustained $84.1M Net Loss in 2011"},"content":{"rendered":"<p>\t\t\t\tAccording to its yearly financial report, in 2011 the Financial Industry Regulatory Authority sustained an $84 million net loss last year primarily because of &#8220;non-recurring costs&#8221; involving new data centers in Maryland and New York and a rise in integration expenses related to the enhancement of cross market surveillance capabilities. A poor economy also reportedly played a role in the SRO&#8217;s decrease in revenues. The report came out on June 29.<\/p>\n<p>FINRA Chairman and Chief Executive Officer Richard Ketchum attributed the decrease of regulatory fees of close to $50 million-a 10% drop since the financial crisis hit in 2008-to a drop in transaction volumes and industry revenues, as well as lower investment returns because of overall market returns and a more conservative investment allocation policy. (FINRA also noted net losses of $696.3 million in 2008, $48.6 million in 2009, and $54.6 million in 2010. )<\/p>\n<p>Ketchum said that due to its &#8220;static funding levels,&#8221; FINRA is closely examining the organization&#8217;s spending habits, which it plans to lower by approximately $35 million this year. He expects that this will creative cumulative savings of close to $60 million by the end of next year while keeping the SRO&#8217;s regulatory mission intact. <\/p>\n<div class=\"read_more_link\"><a href=\"https:\/\/www.investorlawyers.com\/blog\/finra-sustained-841m-net-loss\/\"  title=\"Continue Reading FINRA Sustained $84.1M Net Loss in 2011\" class=\"more-link\">Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"<p>According to its yearly financial report, in 2011 the Financial Industry Regulatory Authority sustained an $84 million net loss last year primarily because of &#8220;non-recurring costs&#8221; involving new data centers in Maryland and New York and a rise in integration expenses related to the enhancement of cross market surveillance capabilities. A poor economy also reportedly [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3739],"tags":[],"class_list":["post-1092","post","type-post","status-publish","format-standard","hentry","category-finra"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>FINRA Sustained $84.1M Net Loss in 2011 &#8212; Investor Lawyers Blog &#8212; July 14, 2012<\/title>\n<meta name=\"description\" content=\"According to its yearly financial report, in 2011 the Financial Industry Regulatory Authority sustained an $84 million net loss last year primarily &#8212; July 14, 2012\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/finra-sustained-841m-net-loss\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FINRA Sustained $84.1M Net Loss in 2011 &#8212; 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