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FINRA Hits Webull with $3M Fine for Permitting Unqualified Options Traders

The Financial Industry Regulatory Authority (FINRA) has slammed a $3 million fine on security broker Webull for onboarding unqualified options traders between December 2019 and July 2021. The membership-based regulator, which is overseen by the United States Securities and Exchange Commission, announced the fine on Thursday.

FINRA in a statement noted that Webull, which is the US-based subsidiary of Chinese-owned Webull Corporation, did not exercise “reasonable due diligence” before ac... Read More

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Posted: Mar 9 2023, 21:32

Author Name: financemagnates

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