CME Group imposes $1M fine on Wedbush Securities for alleged rule violations
International derivatives marketplace CME Group has imposed a fine of $1,000,000 on Wedbush Securities, Inc.
Pursuant to an offer of settlement in which Wedbush neither admitted nor denied the rule violation upon which the penalty is based, on October 10, 2024, the Clearing House Risk Committee (CHRC) found that Wedbush Securities, Inc. had insufficient risk management policies, procedures and controls in place to ensure the performance of certain risk and operational functions, including the adequate monitoring of trading activity at all times.
The CHRC thereby concluded that Wedbush violated CME Rule 982.
The effective date of the disciplinary notice is October 11, 2024.