November 20, 2014
Posted January 26, 2016
The SEC announced that Los Angeles-based broker-dealer Wedbush Securities agreed to settle a pending SEC case for market access violations by admitting wrongdoing, paying a $2.44M penalty. The SEC’s order finds that Wedbush violated the market access rule by failing to have adequate risk controls in place before providing customers with access to the market, including some customer firms with thousands of essentially anonymous overseas traders. SEC
Tagged in: Regulatory Violations, Securities Fraud,