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One-person compliance dept leads to $500,000 fine for online brokerage

Image of the Massachusetts State House in Boston.
The Massachusetts State House, Boston. Photo: Tim Graham/Getty Images

Webull fined by Massachusetts regulators for inadequate compliance handling hundreds of thousands of brokerage accounts.

Compliance at online stock trader Webull was so inadequate that a single employee was often left to deal with compliance matters for hundreds of thousands of brokerage accounts, the Massachusetts state securities office says.

The regulator has fined the firm $500,000. Webull, a New York-based broker-dealer that operates fully as

According