LOS ANGELES, Nov. 20, 2014 (GLOBE NEWSWIRE) -- Wedbush Securities is satisfied with the resolution of the administrative proceeding brought against it by the Securities and Exchange Commission (the "SEC") related to the "market access rule" which became effective in 2011.The firm has always taken seriously its obligations under the federal securities laws, and has taken and will continue to take the necessary steps to address the issues identified as a result of this matter.

Wedbush has a strong record of supporting clear and effective regulation in the sponsored and direct market access area. Until this matter was initially filed in June 2014, in its 59-year history, Wedbush Securities had never been the subject of an SEC enforcement action, settled or otherwise.

This dispute arose from trading activity by certain former correspondent firms and clients that were sponsored through Wedbush Securities' Correspondent Clearing Services business from 2011 through the beginning of 2013.

Wedbush Securities terminated the accounts at issue more than a year ago. The SEC did not allege, nor did they find as part of the resolution, that the trading activity at issue resulted in any harm or losses to any other market participants or to Wedbush Securities. To our knowledge, no such harm or losses occurred.

This proceeding was wholly unrelated to the firm's Capital Markets and Private Client Services business activities, and has no bearing on client financial safety. Wedbush Securities remains focused on high caliber service and client priorities.

CONTACT:Brittany Price 213-688-8057Source:Wedbush Securities