Wedbush Securities Fined $675K by FINRA and NASDAQ

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Wedbush Securities Fined $675K by FINRA and NASDAQ

Postby kreslik.news » Sun Mar 20, 2016 1:31 pm


US-based Financial Industry National Regulatory Authority (FINRA), along with the Nasdaq Stock Market LLC (NASDAQ), today announced a joint censure and fine against Wedbush Securities in connection with its regulation SHO obligations related to a leveraged ETF offering for one of its clearing customers Scout Trading LLC.

The fine from NASDAQ and FINRA totaled $675,000 against Wedbush Securities in connection with its oversight while handling the clearing for Scout Trading LLC. This was a broker-dealer client which had been fined $3 million in a previous related action from NASDAQ. Wedbush acted as an authorized participant of various ETFs to Scout Trading, according to ... (read more)

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