FINRA’s action against Pershing LLC highlights its emphasis on well-designed WSPs

The firm was one of several businesses recently censured for a failure to maintain well-functioning and appropriate WSPs.

New Jersey-based has Pershing LLC settled alleged rule violations with FINRA for problematic actions. The agency said Pershing distributed more than one million account statements and trade confirmations that listed inaccurate interest rate information for certain variable rate securities.

FINRA said the firm also provided inaccurate interest rate information about

Free Trial

Register for free to keep reading.

To continue reading this article and unlock full access to GRIP, register now. You’ll enjoy free access to all content until our subscription service launches in early 2026.

  • Unlimited access to industry insights
  • Stay on top of key rules and regulatory changes with our Rules Navigator
  • Ad-free experience with no distractions
  • Regular podcasts from trusted external experts
  • Fresh compliance and regulatory content every day
Register for free Already a member? Sign in