Federal regulators have fined financial firms significantly less under the first six months of President Trump’s tenure compared to the first six months of 2016, President Barack Obama Barack Hussein ObamaObama calls on Senate not to fill Ginsburg's vacancy until after election Senate Republicans face tough decision on replacing Ginsburg Cruz: Trump should nominate a Supreme Court justice next week MORE’s final year in office, according to a Wall Street Journal analysis.

The Securities and Exchange Commission, the Commodity Futures Trading Commission and the Financial Industry Regulatory Authority levied two-thirds fewer fines ($489 million) in the first half of 2017 compared with the first half of 2016 ($1.4 billion). That’s on track for the lowest annual level of fines since at least 2010, the Journal reported.

The SEC in 2016 fielded 868 enforcement actions against investment advisers and companies, lawyers and firms involved in trading and public finance, scoring more than $4 billion in penalties in the year, an agency record.

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The Trump administration has promised less imposing financial regulation, but experts cited by the Journal say the reduction in penalties is influenced by more than enforcement priorities. Staff turnover between the administrations and fewer enforcement cases related to the financial crisis also reduced the number of cases.