Michelle Wu Terminated from Principal Securities and Fined by Regulator
Michelle Wu (CRD# 3046373), a California based broker was terminated by Principal Securities on May 10, 2022 and was then fined by the Financial Industry Regulatory Authority, or FINRA. This information is based on her public BrokerCheck report, which was last accessed on June 20, 2023.
Michelle Wu Discharged by Principal Securities
On May 4, 2022, Principal Securities discharged Wu and placed the following disclosure on her license, “The RR was terminated for failure to adhere to the firm’s policies and procedures regarding discretionary trading.”
FINRA Fines Michelle Wu
On June 16, 2023 the Financial Industry Regulatory Authority, or FINRA, fined Wu for exercising discretion in 21 customers’ brokerage accounts. According to FINRA, Wu exercised discretion by making as many as 41 unauthorized trades. Principal Securities prohibited brokers from exercising discretion in a customer’s account except under very limited circumstances, which were not applicable in Wu’s case.
Copy of FINRA Fine
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