{"id":68489,"date":"2019-03-20T02:18:32","date_gmt":"2019-03-20T06:18:32","guid":{"rendered":"http:\/\/www.hedgeco.net\/news\/?p=68489"},"modified":"2019-03-20T02:18:32","modified_gmt":"2019-03-20T06:18:32","slug":"wedbush-to-pay-250000-to-settles-failure-to-supervise-charge","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/03\/2019\/wedbush-to-pay-250000-to-settles-failure-to-supervise-charge.html","title":{"rendered":"Wedbush to Pay $250,000 to Settles Failure to Supervise Charge"},"content":{"rendered":"<p>(HedgeCo.Net) The Securities and Exchange Commission has announced that Wedbush Securities Inc. will pay a $250,000 penalty and has agreed to be censured to settle its failure to supervise charge in a pending administrative proceeding. <\/p>\n<p>According to the SEC\u2019s March 2018 order instituting proceedings, Wedbush ignored numerous red flags indicating that one of its registered representatives was involved in a long-running pump-and-dump scheme targeting retail investors.  Wedbush conducted two flawed and insufficient investigations into the registered representative\u2019s conduct, and failed to take appropriate action.<\/p>\n<p>The settlement acknowledges remedial measures taken by Wedbush since March 2018, including changes made to senior leadership, revised policies and procedures, improved electronic surveillance, and the allocation of additional resources to internal and audit controls groups. <\/p>\n<p>\u201cWedbush abandoned important responsibilities to its customers by looking the other way in the face of mounting evidence of manipulative conduct,\u201d said Marc P. Berger, Director of the SEC\u2019s New York Regional Office.  \u201cAfter we filed our claim, Wedbush made significant changes aimed at reforming its practices to detect and report misconduct within its ranks.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>(HedgeCo.Net) The Securities and Exchange Commission has announced that Wedbush Securities Inc. will pay a $250,000 penalty and has agreed to be censured to settle its failure to supervise charge in a pending administrative proceeding. According to the SEC\u2019s March [&hellip;]<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,3,16048],"tags":[],"class_list":["post-68489","post","type-post","status-publish","format-standard","hentry","category-hedgeco-networks-press-releases","category-hedgeco-news","category-hedgecovest-news"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/68489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=68489"}],"version-history":[{"count":1,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/68489\/revisions"}],"predecessor-version":[{"id":68490,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/68489\/revisions\/68490"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=68489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=68489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=68489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}