Wilson-Davis & Co., Inc. Fined by FINRA
The firm, Barkley and Snow appealed a National Adjudicatory Counsel (NAC) decision to the Securities and Exchange Commission (SEC). The NAC had affirmed the findings and modified the sanctions imposed by the Office of Hearing Officers (OHO). The firm was fined $1,100,000, ordered to pay disgorgement in the amount of $51,624, plus prejudgment interest and required to retain an independent consultant to recommend changes to its WSPs.
