June 16, 2014 / 7:11 PM / 5 years ago

Wall St. watchdog to review its sanction guidelines: chief

CEO of the Financial Industry Regulatory Authority Richard Ketchum speaks during the Global Wealth Management Summit in New York June 16, 2014. REUTERS/Brendan McDermid

(Reuters) - Wall Street’s industry-funded watchdog will review its guidelines for imposing fines in enforcement cases, its chief said on Monday.

The Financial Industry Regulatory Authority’s (FINRA) review, planned for this year, follows criticism of the guidelines by Commissioner Kara M. Stein of the U.S. Securities and Exchange Commission on May 29.

FINRA’s review of its sanction guidelines will be its first in at least five years, said Richard Ketchum, FINRA’s chairman and chief executive, speaking at Reuters Global Wealth Management Summit on Monday.

Reporting by Suzanne Barlyn; Editing by Meredith Mazzilli

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