Which Regulator Packed the Most Fines in 2015? RegTelligence™ knows. Do you?

Here are a couple of takeaways based on the information reported by firms and regulators for the period January-December 2015:

1.  Federal Regulators Packed the Heaviest Overall Punch:

As expected, the federal regulators (which includes the Board of Governors of the Federal Reserve System, CFTC, Comptroller of the Currency, Federal Deposit Insurance Corporation, Department of the Treasury, DOJ, Consumer Financial Protection Bureau*) packed the heaviest overall punch with an average firm fine in 2013 $125M, 2014 $292M, 2015 $235M compared to the second highest average firm fine, assessed by State Regulators, which was 2013 $3.3M, 2014 $36.4M, 2015 $36.5M.

                                                   *Does not include the SEC; they have their own RegTelligence™ Category

2.  Penalty Trends – What are they?

Interestingly, according to RegTelligence™  there is no clear increase or decrease in average penalty trend over the past 3 years for any regulator, except for SROs (these SROs include but are not limited to FINRA, NYSE, CME Group, International Securities Exchange), which are trending downward, 2013 $823K, 2014 $539K, 2015 $271K.

3.  State vs. Foreign Regulators:

State Regulator fines have a higher total fine per year average ($3.2B) over the past 3 years, but lower single sanction average (approximately $25M per fine over the past 3 years) compared to Foreign Regulators (the Foreign total fine per year average is $1.49 B, with a $33M average single fine over the same time period) indicating high activity for State Regulators, but fewer heavy hitting sanctions as compared to Foreign Regulators.

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