Wunderlich Securities, Inc. (CRD #2543, Memphis, Tennessee) recently submitted a Letter of Acceptance, Waiver and Consent in which the firm was censured and fined $50,000. Without admitting or denying the findings, the firm consented to the described sanctions and to the entry of findings that it failed to supervise the personal trading of research analysts who [...]
As provided for in FINRA Notice to Member (NTM) 09-63, the following rules currently apply to discretionary brokerage accounts: FINRA Rule 2510 FINRA Rule 2510 addresses the obligations of members that have discretionary power over a customer’s account. Rule 2510(a) (excessive transactions/excessive trading) prohibits members and their agents or employees that have discretionary power over [...]