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

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Photo: Getty Images
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Julie DiMauro

5 min read

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

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