The regulatory group for the brokerage industry says fines collected from its disciplinary actions this year increased 21 percent over 2004 as it brought more cases and stepped up scrutiny of mutual fund sales.
The regulator, NASD, based in Washington and formerly known as the National Association of Securities Dealers, assessed $125.4 million in punitive fines this year, up from $103.9 million in 2004 and $33.3 million in 2003, it said yesterday. NASD filed 1,412 disciplinary actions in 2005, a 1 percent increase from 1,396 in 2004.
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