{"id":4802,"date":"2017-10-31T19:38:24","date_gmt":"2017-11-01T00:38:24","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4672"},"modified":"2022-03-22T15:07:45","modified_gmt":"2022-03-22T20:07:45","slug":"securities-cases-nyse-regulation-files-complaint-wedbush-securities-ex-apollo-management-sr-partner-accused-billing-investors-salon-visits-vacations-ny-money-manager-ex","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nyse-regulation-files-complaint-wedbush-securities-ex-apollo-management-sr-partner-accused-billing-investors-salon-visits-vacations-ny-money-manager-ex\/","title":{"rendered":"Securities Cases: NYSE Regulation Files Complaint Against Wedbush Securities, Ex-Apollo Management Sr. Partner is Accused of Billing Investors for Salon Visits &#038; Vacations, and NY Money Manager &#038; Ex-Investment Adviser Get Prison Sentences for Fraud"},"content":{"rendered":"<p>\t\t\t\t<strong>Wedbush Securities Accused of Failing to Oversee Owner, Who May Have Cherry Picked Investments<\/strong><br \/>\nThe NYSE Regulation has filed a disciplinary case against Wedbush Securities Inc. accusing the firm of not properly overseeing the trading activities of firm owner and principal Edward Wedbush. According to the complaint, Mr. Wedbush, \u201cactively\u201d managed and traded in over 70 accounts and he had limited power over attorney over the accounts of relatives, friends, and some staff members. NYSE contends that he was never properly overseen, which increased the possibility of conflicts and manipulation, including cherry picking. For example, the regulator believes that the <a href=\"https:\/\/www.investorlawyers.com\/failure-to-supervise.html\">inadequate supervision <\/a>of Mr. Wedbush gave him the \u201cunchecked ability\u201d to give the best trades to family members and himself because there was no system in place to make sure trades were fairly allocated.<\/p>\n<p>Wedbush Securities has previously been subject to at least $4.1M over supervisory deficiencies. Last year, the Financial Industry Regulatory Authority ordered Mr. Wedbush to pay $50K for supervisory deficiencies involving regulatory filings. He also was suspended for 31 days from serving as a principal.<\/p>\n<p>Wedbush Securities has been named in <a href=\"https:\/\/www.stockbroker-fraud.com\">investor fraud<\/a> complaints over the handling of their money.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nyse-regulation-files-complaint-wedbush-securities-ex-apollo-management-sr-partner-accused-billing-investors-salon-visits-vacations-ny-money-manager-ex\/#more-4802\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wedbush Securities Accused of Failing to Oversee Owner, Who May Have Cherry Picked Investments The NYSE Regulation has filed a disciplinary case against Wedbush Securities Inc. accusing the firm of not properly overseeing the trading activities of firm owner and principal Edward Wedbush. According to the complaint, Mr. Wedbush, \u201cactively\u201d managed and traded in over [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3752,3781,3738,3760,3985],"tags":[2913],"class_list":["post-4802","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-investment-advisers","category-investor-fraud","category-sec-enforcement","category-wedbush-securities","tag-apollo-management"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Securities Cases: NYSE Regulation Files Complaint Against Wedbush Securities, Ex-Apollo Management Sr. Partner is Accused of Billing Investors for Salon Visits &amp; Vacations, and NY Money Manager &amp; Ex-Investment Adviser Get Prison Sentences for Fraud &#8212; Investor Lawyers Blog &#8212; October 31, 2017<\/title>\n<meta name=\"description\" content=\"Wedbush Securities Accused of Failing to Oversee Owner, Who May Have Cherry Picked Investments The NYSE Regulation has filed a disciplinary case against &#8212; October 31, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nyse-regulation-files-complaint-wedbush-securities-ex-apollo-management-sr-partner-accused-billing-investors-salon-visits-vacations-ny-money-manager-ex\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Securities Cases: NYSE Regulation Files Complaint Against Wedbush Securities, Ex-Apollo Management Sr. Partner is Accused of Billing Investors for Salon Visits &amp; Vacations, and NY Money Manager &amp; Ex-Investment Adviser Get Prison Sentences for Fraud &#8212; Investor Lawyers Blog &#8212; October 31, 2017\" \/>\n<meta name=\"twitter:description\" content=\"Wedbush Securities Accused of Failing to Oversee Owner, Who May Have Cherry Picked Investments The NYSE Regulation has filed a disciplinary case against &#8212; October 31, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards &amp; Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Securities Cases: NYSE Regulation Files Complaint Against Wedbush Securities, Ex-Apollo Management Sr. Partner is Accused of Billing Investors for Salon Visits & Vacations, and NY Money Manager & Ex-Investment Adviser Get Prison Sentences for Fraud &#8212; Investor Lawyers Blog &#8212; October 31, 2017","description":"Wedbush Securities Accused of Failing to Oversee Owner, Who May Have Cherry Picked Investments The NYSE Regulation has filed a disciplinary case against &#8212; October 31, 2017","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nyse-regulation-files-complaint-wedbush-securities-ex-apollo-management-sr-partner-accused-billing-investors-salon-visits-vacations-ny-money-manager-ex\/","twitter_card":"summary_large_image","twitter_title":"Securities Cases: NYSE Regulation Files Complaint Against Wedbush Securities, Ex-Apollo Management Sr. Partner is Accused of Billing Investors for Salon Visits & Vacations, and NY Money Manager & Ex-Investment Adviser Get Prison Sentences for Fraud &#8212; Investor Lawyers Blog &#8212; October 31, 2017","twitter_description":"Wedbush Securities Accused of Failing to Oversee Owner, Who May Have Cherry Picked Investments The NYSE Regulation has filed a disciplinary case against &#8212; October 31, 2017","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nyse-regulation-files-complaint-wedbush-securities-ex-apollo-management-sr-partner-accused-billing-investors-salon-visits-vacations-ny-money-manager-ex\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nyse-regulation-files-complaint-wedbush-securities-ex-apollo-management-sr-partner-accused-billing-investors-salon-visits-vacations-ny-money-manager-ex\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Securities Cases: NYSE Regulation Files Complaint Against Wedbush Securities, Ex-Apollo Management Sr. Partner is Accused of Billing Investors for Salon Visits &#038; Vacations, and NY Money Manager &#038; Ex-Investment Adviser Get Prison Sentences for Fraud","datePublished":"2017-11-01T00:38:24+00:00","dateModified":"2022-03-22T20:07:45+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nyse-regulation-files-complaint-wedbush-securities-ex-apollo-management-sr-partner-accused-billing-investors-salon-visits-vacations-ny-money-manager-ex\/"},"wordCount":731,"keywords":["Apollo Management"],"articleSection":["Financial Firms","Investment Advisers","Investor Fraud","SEC Enforcement","Wedbush Securities"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nyse-regulation-files-complaint-wedbush-securities-ex-apollo-management-sr-partner-accused-billing-investors-salon-visits-vacations-ny-money-manager-ex\/","url":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nyse-regulation-files-complaint-wedbush-securities-ex-apollo-management-sr-partner-accused-billing-investors-salon-visits-vacations-ny-money-manager-ex\/","name":"Securities Cases: NYSE Regulation Files Complaint Against Wedbush Securities, Ex-Apollo Management Sr. Partner is Accused of Billing Investors for Salon Visits & Vacations, and NY Money Manager & Ex-Investment Adviser Get Prison Sentences for Fraud &#8212; Investor Lawyers Blog &#8212; October 31, 2017","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2017-11-01T00:38:24+00:00","dateModified":"2022-03-22T20:07:45+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"Wedbush Securities Accused of Failing to Oversee Owner, Who May Have Cherry Picked Investments The NYSE Regulation has filed a disciplinary case against &#8212; October 31, 2017","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nyse-regulation-files-complaint-wedbush-securities-ex-apollo-management-sr-partner-accused-billing-investors-salon-visits-vacations-ny-money-manager-ex\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/securities-cases-nyse-regulation-files-complaint-wedbush-securities-ex-apollo-management-sr-partner-accused-billing-investors-salon-visits-vacations-ny-money-manager-ex\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/securities-cases-nyse-regulation-files-complaint-wedbush-securities-ex-apollo-management-sr-partner-accused-billing-investors-salon-visits-vacations-ny-money-manager-ex\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"Securities Cases: NYSE Regulation Files Complaint Against Wedbush Securities, Ex-Apollo Management Sr. Partner is Accused of Billing Investors for Salon Visits &#038; Vacations, and NY Money Manager &#038; Ex-Investment Adviser Get Prison Sentences for Fraud"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards &amp; Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards &amp; Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards &amp; Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1fs","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4802","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=4802"}],"version-history":[{"count":1,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4802\/revisions"}],"predecessor-version":[{"id":25184,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4802\/revisions\/25184"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=4802"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=4802"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=4802"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}