SEC dings three broker-dealers for deficient SAR narratives

The SEC’s orders allege that the broker-dealers omitted key details in their SAR narratives.

The SEC has settled charges with three broker-dealers: WeBull Financial, Lightspeed Financial Services Group, and Paulson Investment Company, after each firm was alleged to have failed to fully flesh out the narrative sections of several suspicious activity reports (SARs) from 2018 to 2022.

All three settled the charges without admitting or denying

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