November 20, 2014 / 4:18 PM / 3 years ago

Wedbush to pay $2.44 mln to settle SEC market access charges

WASHINGTON, Nov 20 (Reuters) - Brokerage firm Wedbush Securities will pay a $2.44 million penalty and admit to wrongdoing in a deal to settle civil charges over shoddy risk controls that let thousands of overseas traders gain access to U.S. markets, federal regulators said.

Wedbush’s settlement with the U.S. Securities and Exchange Commission on Thursday was widely anticipated after the settlement talks were disclosed in September in a filing in the SEC’s administrative court.

The SEC also said that former Wedbush executive vice president Jeffrey Bell and senior vice president Christina Fillhart also agreed to settle the charges against them. (Reporting by Sarah N. Lynch; Editing by Bill Trott)

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