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Articles Posted in failure to supervise

Edward Wedbush Under Regulatory Scrutiny by NYSE Concerning Allegations of Failure to Supervise Certain Trades
InvestorLawyers

On October 16, 2017, NYSE Regulation — the regulatory enforcement subsidiary of NYSE Arca, Inc. (“NYSE”) — filed a Complaint against Wedbush Securities Inc. (“Wedbush”) (CRD# 877), and its founder, Mr. Edward Wedbush. The Complaint centers on Wedbush’s alleged systemic failure to supervise certain trading purportedly conducted by its owner and founder, Mr. Wedbush, who…

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Merrill Lynch Fined $1 Million For Ex-Broker’s Ponzi Scheme Run Out Of Merrill Office
InvestorLawyers

Bank of America’s Merrill Lynch brokerage unit agreed to pay $1 million for supervisory failures that allowed a former broker to use a Merrill Lynch account to run a Ponzi scheme, FINRA said on Tuesday. The Financial Industry Regulatory Authority (“FINRA”), which oversees the U.S. brokerage industry, found that the brokerage failed to have an…

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