August 8, 2023

Registered futures commission merchant Wedbush Securities Inc. has been ordered to pay $6 million for its failure to maintain, preserve, and produce communications relating to the company’s business as a CFTC registrant.  From about 2018 onward, the company used unapproved channels, such as personal texts, for internal and external communications, but failed to preserve them per recordkeeping requirements.  CFTC

Tagged in: Fraud in CFTC-Regulated Markets,