Wedbush Securities, a non-bank Broker Dealer and Futures Commission Merchant, announces the transition of Tom Anderson and Tom Chlada, from Wedbush Securities to RCM Alternatives. This transition is intended to be part of a larger collaboration with RCM on several fronts meant to further solidify the firm’s relationship with the firm, which is one of the largest independent introducing brokers in the futures space, according to the Wedbush.
The CFMA meant different things to different groups and to the Futures Industry Association and the large bank future commission merchants that had come to dominate its leadership, it meant the potential of delinking clearing from exchanges.
Vision will pay a $1.5 million fine in addition to the $2.053 million in restitution it paid to customers on March 15, 2014. Vision was also ordered to withdraw from NFA membership six months from today’s decision.