This disciplinary action illustrates the emphasis that regulators place on adequate systems and processes and on the perennial struggle by firms to ensure that technology actually produces the expected compliance outcomes. It also underscores the importance of robust recordkeeping and that an adequate review of the records gathered is very
Onboarding and complaints issues lead to fine and censure for retail investment firm
Webull Financial LLC allegedly incorrectly approved customers for trading and failed to keep tabs on customer complaints.