Wedbush Securities on Resolution of Securities and Exchange Commission Proceeding
Los Angeles, CA – March 13, 2019 – Wedbush Securities Inc. (the “Firm”) today made the following statement regarding its resolution of an administrative proceeding with the Securities and Exchange Commission (the “SEC”). Wedbush Securities is pleased to have resolved this administrative proceeding brought by the SEC. This matter stemmed from conduct relating to the supervision of one former registered representative prior to October, 2014. As recognized by the SEC in the Administrative Order, the Firm has taken a number of steps to address the supervisory issues identified as a result of this matter. A considerable investment has been made by the Firm in supervisory systems and professionals, as well as in overall improvements to our compliance infrastructure. The result of this investment is one of many upgrades to our Private Wealth Management platform enabling Wedbush Financial Advisors to deliver continued improvements in client service. “The Firm takes very seriously its responsibility to supervise our Financial Advisors and we are appreciative of the SEC in helping us identify insufficiencies in our detection and reporting procedures and systems. We are confident these issues are fully rectified,” state Co-Presidents Rich Jablonski and Gary Wedbush.
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Wedbush Securities Appoints Christopher Mone as Executive Vice President and Head of Wealth Management
Los Angeles, CA – March 13, 2019 – Wedbush Securities is pleased to announce the appointment of Christopher “Chris” Mone as the firm’s new EVP and Head of Wealth Management. Chris will be responsible for the leadership of Wedbush’s entire Private Wealth Management service division. He is based in the Los Angeles headquarters and reports to Co-Presidents Richard M. Jablonski and Gary L. Wedbush. As a member of the President’s Executive Committee, Chris joins the most senior leadership of the firm. Additionally, Jim Richards has been appointed to the newly created role of Director of Operations in Wealth Management. Jim will be responsible for the operations and administration of the Division and report directly to Chris. Chris has 25 years of experience in private wealth management and joins Wedbush from Wilmington Trust, where he served as President of U.S. Markets of Wilmington Trust Wealth Advisory. Prior to this Chris held management positions at BNY Melon Wealth Management, UBS Wealth Management, and Prudential Securities. Chris earned his B.A. from St. John’s University and his J.D. from Fordham University School of Law. “I am thrilled to be joining Wedbush at this moment in the firm’s history,” states Chris. “With the firm’s innovative culture, and diverse business mix, I believe we have all the right ingredients to be incredibly successful. I look forward to serving and working with our advisors and clients, to further develop and expand our Private Wealth Management group.” Co-Presidents Gary L. Wedbush and Richard M. Jablonski add, “Chris has extraordinary leadership and business-building experience in private wealth management and we look forward to his contributions as our partner on the executive team.” About Wedbush Securities Since our founding in 1955, Wedbush has been a leader in the financial services industry, providing our clients, both private and institutional, with a wide range of securities brokerage, wealth management, and investment banking services; Headquartered in Los Angeles, California with 100 registered offices and nearly 1,000 colleagues, the firm focuses on client service and financial safety, innovation, and the utilization of advanced technology. Follow us on LinkedIn, Twitter, and Facebook.