Wedbush Securities and the firm's president lost their appeal of a FINRA enforcement decision imposing more than $300,000 in fines and a month-long suspension of the top executive for failing in their reporting duties.
Last week Edward Wedbush and his namesake firm were unable to overturn a 2012 decision by a FINRA hearing panel that had found the firm liable for failure in its accurate and timely reporting of customer complaints, employment registration of registered representatives and statistical files. Wedbush and the firm also were found to have failed in their supervision of the reports.
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