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FINRA Fines Webull $3M on Customer Approval Woes

March 14, 2023 by FTF News

FINRA Fines Webull $3M on Customer Approval Woes

Exercising “reasonable due diligence” before approving customers for options trading: How hard is that? For that matter, how hard is it to maintain a supervisory system “reasonably designed to identify and respond to customer complaints?” And what about “not reporting certain written customer complaints to FINRA as required?” Taken together, those are the $3 million… Read More >>

Filed Under: Derivatives Operations, Derivatives Processing, Securities Operations, Operational Risk, Governance, KYC, AML/Fraud/Financial Crime, Regulation & Compliance, Regulatory Compliance, Regulatory Reporting Tagged With: automation, compliance, customer due diligence, data management, FINRA, operational risk, options trading, OTC derivatives, wall street, Webull

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