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Wall St regulator FINRA charges Wedbush with market access violations
August 18, 2014 / 1:21 PM / 3 years ago

Wall St regulator FINRA charges Wedbush with market access violations

WASHINGTON, Aug 18 (Reuters) - Wall Street’s self-funded regulator on Monday charged brokerage firm Wedbush Securities with having shoddy risk controls, a flaw that in turn allowed thousands of traders to flood U.S. markets and execute manipulative trades.

The Financial Industry Regulatory Authority’s case marks the second time this year that regulators have filed civil charges against the major brokerage firm over so-called market access rule violations.

Earlier this summer, the U.S. Securities and Exchange Commission filed a related against Wedbush; its former vice president, Jeffrey Bell; and its current senior vice president, Christina Fillhart. (Reporting by Sarah Lynch; Editing by Lisa Von Ahn)

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