The Securities and Exchange Commission on Tuesday said broker-dealer Wedbush Securities Inc. failed to properly supervise an employee who was allegedly involved in a long-running “pump-and-dump” scheme aimed at retail investors. The SEC, in a press release, said the administrative charges represent the second action against Wedbush this year and the third against the firm since 2014. Wedbush is based in Los Angeles, but has almost 100 offices around the world.

Source: Wall Street Journal March 27, 2018 22:07 UTC