Galvin Legal, PLLC is launching an investigation on behalf of investors who may have suffered losses investing with Wedbush Securities. If you suffered losses investing with Wedbush Securities, then Galvin Legal, PLLC may be able to help you recover your losses in a Financial Industry Regulatory Authority (“FINRA“) arbitration claim.
Wedbush Securities (CRD# 877) (SEC# 801-6358, 8-12987)
As of April 4, 2020, Wedbush Securities’s FINRA BrokerCheck Report contains the following:
111 Regulatory Event Disclosures
2 Civil Event Disclosures
60 Arbitration Disclosures
1 Bond Disclosures
UPDATE 6/18/2020: According to FINRA’s April 2020 Disciplinary Actions: “Wedbush Securities Inc. (CRD #877, Los Angeles, California) February 18, 2020 – An AWC was issued in which the firm was censured and fined $30,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to transmit Reportable Order Events (ROEs) to OATS due to system issues that arose during its transition between third-party order management systems. The findings stated that due to the same system issues, the firm transmitted ROEs containing inaccurate, incomplete, or improperly formatted data to OATS. (FINRA Case #2017053704501)”
UPDATE 4/11/2020: According to FINRA’s March 2020 Disciplinary Actions: “Wedbush Securities Inc. (CRD #877, Los Angeles, California) January 16, 2020 – An AWC was issued in which the firm was censured and fined $90,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it misreported its short positions in equity securities that must be reported pursuant to FINRA Rule 4560 by overstating its short positions and the number of accounts with short positions. (FINRA Case #2017053173601)”
Main Office Location
1000 WILSHIRE BLVD. SUITE 900
ATTN: BUSINESS CONDUCT
LOS ANGELES, CA 90017-2457
P.O. BOX 30014
LOS ANGELES, CA 90030-0014
Business Telephone Number
Direct Owners and Executive Officers
WEDBUSH FINANCIAL SERVICES, LLC, OWNER
BILLINGS, DANIEL ERIC (CRD#:4568232), EXECUTIVE VICE PRESIDENT, CHIEF FINANCIAL OFFICER, DIRECTOR
DEMPSEY, FRANCIS BURKE (CRD#:2428325), EXECUTIVE VICE PRESIDENT
DRUCH, ANDREW WALTER (CRD#:1688071), EXECUTIVE VICE PRESIDENT, GENERAL COUNSEL, CHIEF ADMINISTRATIVE OFFICER, DIRECTOR
FITZSIMMONS, ROBERT GERARD (CRD#:1878661), EXECUTIVE VICE PRESIDENT
FRAUNCES, KIRSTEN CAMPBELL (CRD#:2933930), EXECUTIVE VICE PRESIDENT
HULTGREN, DONALD WAYNE (CRD#:1475369), EXECUTIVE VICE PRESIDENT, DIRECTOR
MONE, CHRISTOPHER MICHAEL (CRD#:2401952), EXECUTIVE VICE PRESIDENT
MOY, VINCENT JOHN (CRD#:2469335), SENIOR VICE PRESIDENT, CO-CHIEF COMPLIANCE OFFICER, ROSFP
PASET, ROBERT EDWARD (CRD#:1055902), EXECUTIVE VICE PRESIDENT
SCANLON, SEAN MARTIN (CRD#:1722754), SENIOR VICE PRESIDENT, PRINCIPAL OPERATIONS OFFICER
SEGALL, ERIC STUART (CRD#:1071881), SENIOR VICE PRESIDENT, CO-CHIEF COMPLIANCE OFFICER, ROSFP
WEDBUSH, ERIC DEAN (CRD#:5786473), DIRECTOR
WEDBUSH, GARY LANCE (CRD#:2234455), CO-PRESIDENT, DIRECTOR
FINRA requires brokerage firms to conduct due diligence on investments and to conduct a suitability analysis when recommending securities to a customer that takes into account the customer’s knowledge and experience. Brokerage firms that fail to conduct adequate due diligence or that make unsuitable recommendations can be held responsible for the customer’s losses in a FINRA arbitration claim.
If you suffered losses investing with Wedbush Securities and would like a free consultation with a securities attorney, then please call Galvin Legal, PLLC at 1-800-405-5117.
This information is all publicly available and is being provided to you by Galvin Legal, PLLC.
Galvin Legal, PLLC is a national securities arbitration, securities mediation, securities litigation, securities fraud, securities regulation and compliance, and investor protection law practice. For more information on Galvin Legal, PLLC and its representation of investors, please visit www.galvinlegal.com or call 1-800-405-5117.