The Securities and Exchange Commission (SEC) recently penalized the Los Angeles-based Wedbush Securities and two of its top officials, for market access violations. Wedbush Securities was fined $2.44 million and agreed to retain an independent consultant. Jeffrey Bell, former VP, and Christina Fillhart, senior VP, agreed to pay more than $85,000 in penalties and interest, […]

WASHINGTON — It was announced on FINRA's website that The Financial Industry Regulatory Authority (FINRA) has fined Southwest Securities, Inc., of Dallas, $650,000 for deficiencies in due diligence, risk assessment and written supervisory procedures that permitted one of its correspondent firms, Cutler Securities, to create risk for Southwest through improper short sales. FINRA also required Southwest […]