Broker-dealer Wedbush Securities Inc. has settled with the SEC for $8.1 million over charges that the firm improperly handled pre-released American Depositary Receipts (ADRs) from November 2011 through September 2013. Without admitting or denying the SEC’s findings, the firm has agreed to the SEC’s order, which alleges that Wedbush “improperly obtained pre-released ADRs from depositary banks… Read More >>
Wedbush Settles Supervisory Failure Charges for $250K
The Los Angeles-based Wedbush Securities Inc. and the SEC have come to a settlement over charges that the firm failed to properly supervise one of its registered representatives, allegedly involved in a pump-and-dump scheme. The agreement, which follows an administrative proceeding from last year, will require the firm to pay a $250,000 penalty and agree… Read More >>
