FINRA Full Steam Ahead on Disciplinary Actions So Far in August

FINRA has kept pace and continued to enforce disciplinary actions upon brokerages and reps that violate FINRA regulations. A blockbuster charge came on Monday August 18th when the SRO alleged that Wedbush Securities failed to maintain AML controls and manipulated trades spanning the years 2009 to 2013. Another highlight of the actions was an NYC firm expelled for a fraudulent sale of notes. There are also a few electronic communications violations for the first half of August. Three firms have been fined as well as one of their compliance officers for failing to supervise brokers’ emails.

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Creative Commons Creative Commons Attribution 2.0 Generic License photo  by  cdelmoral