The Financial Industry Regulatory Authority is on a pace to far exceed this year the number of fines and disciplinary actions against financial advisers it imposed last year, according to a review by an industry law firm.

Lawyers at Sutherland Asbill & Brennan LLP found that during the first half of 2012, FINRA ordered broker-dealers and associated persons to pay $39.4 million in fines.

"If fines continue to be assessed at this rate, 2012 will represent a 15% increase from the total fines reported by FINRA in 2011," said Sutherland partner Brian L. Rubin.

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