• NOTICE OF DISCIPLINARY ACTION

      • #
      • 19-CH-1907
      • Notice Date
      • 24 January 2020
      • Effective Date
      • 24 January 2020

    • FILE NO.:                   19-CH-1907

      MEMBER FIRM:         Wedbush Securities Inc.     

      CBOT Rules:              980. REQUIRED RECORDS AND REPORTS

      B.  Each clearing member shall maintain an adequate accounting system, internal accounting controls, and procedures for safeguarding customer and firm assets.  This includes, but is not limited to, the following:

      3.  Prevention of a material inadequacy as defined in CFTC Regulation 1.16(d)(2).

               

      FINDINGS:                  Pursuant to an offer of settlement in which Wedbush Securities Inc.  neither admitted nor denied the rule violation upon which the penalty is based, on January 23, 2020, the Clearing House Risk Committee found that Wedbush Securities Inc. violated CBOT Rule 980.B.3.

      PENALTY:                  In accordance with the settlement offer, the Committee imposed a $150,000 fine.

       

      EFFECTIVE DATE:    January 24, 2020

       

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