June 6, 2014 / 2:31 PM / 4 years ago

U.S. SEC charges Wedbush with numerous regulatory violations

WASHINGTON, June 6 (Reuters) - U.S. securities regulators on Friday filed a laundry list of civil charges against brokerage firm Wedbush Securities Inc, including charges it violated “market access” rules that require firms to have risk controls in place.

The Securities and Exchange Commission said that Wedbush, which ranks as one of the five largest firms by trading volume on the Nasdaq stock exchange, also ran afoul of other rules on things including short-selling, anti-money laundering requirements and rules requiring them to preserve records.

The SEC added that Wedbush plans to fight the charges in the agency’s administrative court. (Reporting by Sarah N. Lynch; Editing by Doina Chiacu)

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