{"id":20405,"date":"2023-07-03T21:10:36","date_gmt":"2023-07-03T21:10:36","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2023\/07\/03\/finra-posts-218m-loss-for-2022\/"},"modified":"2023-07-03T21:10:36","modified_gmt":"2023-07-03T21:10:36","slug":"finra-posts-218m-loss-for-2022","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2023\/07\/03\/finra-posts-218m-loss-for-2022\/","title":{"rendered":"FINRA Posts $218M Loss for 2022"},"content":{"rendered":"<div class=\"media_block\"><a href=\"https:\/\/feeds.feedblitz.com\/-\/750565718\/0\/thinkadvisor\/\"><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2023\/06\/Rockville_FINRA_640x640.jpg\" class=\"media_thumbnail\"><\/a><\/div>\n<div><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2023\/06\/Rockville_FINRA_640x640.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p id=\"first-para\">The Financial Industry Regulatory Authority on Friday reported a $218.1 million net loss for 2022, compared&nbsp;with the $218.8 million profit the regulator reported for 2021.<\/p>\n<p>The 2022 net loss was \u201cdriven by\u201d investment and operating losses of $166.9 million and $60.2 million, respectively, Robert W. Cook, FINRA CEO and president, and Todd T. Diganci, its chief financial and administrative officer, said in <a href=\"https:\/\/www.finra.org\/sites\/default\/files\/2023-06\/2022_Annual_Financial_Report.pdf\" target=\"_blank\" rel=\"noopener\">the report<\/a>.<\/p>\n<p>FINRA\u2019s reserve portfolio lost 6.4% last year. Although \u201cnegative for the year, our portfolio performance was favorable relative to the double-digit declines in the global equity and U.S. investment grade bond markets,\u201d the&nbsp;executives said in their annual message.<\/p>\n<p>The $60.2 million operating loss, compared with a&nbsp;$112 million operating profit in 2021, \u201creflected lower revenues and an increase in operating expenses, offset by higher interest and dividend income,\u201d&nbsp;according to the report.<\/p>\n<p>Revenue, meanwhile, dipped to $1.34 billion last year from $1.4 billion in 2021. The decline was \u201cdue to a decrease in the number of public offerings and lower Trading Activity Fees,\u201d the executives&nbsp;said.<\/p>\n<p>FINRA\u2019s increased operating expenses last year were \u201cdriven in part by investments in staff and technology to strengthen our capabilities to fulfill long-standing regulatory responsibilities, address more recent expansions in the scope of our duties, and meet new challenges in the markets,\u201d they said. \u201cThe increased costs also reflect steps we took to manage evolving workforce conditions, including wage inflation and competitive labor markets.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Financial Industry Regulatory Authority on Friday reported a $218.1 million net loss for 2022, compared&nbsp;with the $218.8 million profit the regulator reported for 2021. The 2022 net loss was \u201cdriven by\u201d investment and&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":20406,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2023\/07\/finra-posts-218m-loss-for-2022.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20405"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=20405"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/20405\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/20406"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=20405"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=20405"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=20405"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}