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The firm is investigating Mark Heiden, a Wedbush Securities broker. Heiden is accused of using sales practices that were related to the overconcentration of energy related stocks investments in customer accounts. These investments included Energy XXI Bermuda Ltd.(EXXI): Energy XXI was an independent oil and natural gas development and production company whose growth strategy emphasized […]
An AWC was issued in which the firm was censured and required to provide FINRA with a remediation plan to remediate eligible customers who qualified for, but did not receive, an applicable mutual fund sales-charge waiver. As part of this settlement, the firm agreed to pay restitution to eligible customers, which is estimated to total […]
An AWC was issued in which the firm was censured and fined $250,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to supervise certain of its registered representatives to ensure their compliance with FINRA rules relating to outside business activities, private securities […]
An AWC was issued in which the firm was censured and required to provide FINRA with a remediation plan to remediate eligible customers who qualified for, but did not receive, an applicable mutual fund sales-charge waiver. As part of this settlement, the firm agreed to pay restitution to eligible customers, which is estimated to total […]
The Securities and Exchange Commission has filed a subpoena enforcement action against 235 limited liability companies (the “LLCs”) based in Delaware and Colorado seeking an order requiring the production of documents. According to the SEC’s application and supporting papers, filed in federal court in Miami: The SEC is investigating whether Woodbridge or others have violated, […]