{"id":854,"date":"2011-03-28T18:20:14","date_gmt":"2011-03-28T18:20:14","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2011\/03\/finra_panel_orders_wedbush_sec"},"modified":"2011-03-28T18:20:14","modified_gmt":"2011-03-28T18:20:14","slug":"finra-panel-orders-wedbush-sec","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-panel-orders-wedbush-sec\/","title":{"rendered":"FINRA Panel Orders Wedbush Securities to Pay $233,000 in Securities Fraud Damages"},"content":{"rendered":"

\t\t\t\tA Financial Industry Regulatory Authority (FINRA) arbitration panel says Wedbush Securities Incorporated must pay Karen E. Ray $233,000 in damages. Ray had accused the brokerage firm of numerous causes of action, including negligence, purposely negligent misrepresentations<\/a>, and violating FINRA Rules of Fair Practices.<\/p>\n

Rays case isn’t the first one against the broker-dealer. FINRA’s broker report on the financial firm noted that Wedbush has been at the center of a number of customer complaints and over 40 regulatory inquiries brought by the Securities and Exchange Commission, FINRA (previously NASD), the NYSE Division of Enforcement, as well as regulatory bodies in Colorado, Washington, New Jersey, Georgia, Idaho, and Oregon.<\/p>\n

Among the allegations are those involving supervisory failures and market timing. The broker report also noted that Wedbush had received over 40 securities arbitration claims by customers alleging unsuitability, negligence, excessive margin, churning, misrepresentation, and\/or breach of fiduciary duty. Their cases involved different kinds of securities, such as mutual funds, bonds, stocks, municipal securities, annuities, and options.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

A Financial Industry Regulatory Authority (FINRA) arbitration panel says Wedbush Securities Incorporated must pay Karen E. Ray $233,000 in damages. Ray had accused the brokerage firm of numerous causes of action, including negligence, purposely negligent misrepresentations, and violating FINRA Rules of Fair Practices. Rays case isn’t the first one against the broker-dealer. FINRA’s broker report […]<\/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":[3752,3739,3741,3985],"tags":[],"class_list":["post-854","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-finra","category-securities-fraud","category-wedbush-securities"],"yoast_head":"\nFINRA Panel Orders Wedbush Securities to Pay $233,000 in Securities Fraud Damages — Investor Lawyers Blog — March 28, 2011<\/title>\n<meta name=\"description\" content=\"A Financial Industry Regulatory Authority (FINRA) arbitration panel says Wedbush Securities Incorporated must pay Karen E. 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