Securities Lawyers Blog
We represent clients of financial advisors and brokerage firms in investment disputes against their firms, such as Wolverine Execution Services, LLC. Our services cover a wide spectrum of broker misconduct, including unsuitable investments, failure to supervise, and losses in various investment products. Our firm can analyze your brokerage accounts, determine the extent of your investment losses, and understand the issues and remedies available.
Wolverine Execution Services is a broker-dealer and CFTC-registered introducing broker that provides trade execution services in equities, options, and futures for its parent, affiliates, other broker-dealers, registered investment advisors, and institutional customers, with memberships on multiple United States exchanges including Cboe and Nasdaq. Organized in Illinois in 2001 and headquartered at 175 West Jackson Boulevard in Chicago, the firm is a wholly owned subsidiary of proprietary trading firm Wolverine Trading.
Wolverine Execution Services, LLC – By the Numbers:
- CRD #: 120719
- Regulatory Events: 43
- Broker Employees: 57
Wolverine Execution Services, LLC – In the News:
FINRA v. Wolverine Execution Services, LLC (Case #2018057166105) – Between May 2016 and March 2019, Wolverine violated Regulation SHO (Reg SHO) Rule 200(g), promulgated under the Securities Exchange Act of 1934, as amended (the Exchange Act), and FINRA Rule 2010, by inaccurately marking sell orders as long rather than short in 18,756 instances. The firm also violated Reg SHO Rule 203(b) and FINRA Rule 2010 by failing to document compliance with the locate requirement in 556,388 instances during February 2018. Moreover, between December 20, 2017 and June 20, 2018, Wolverine violated FINRA Rules 7230A and 2010 by failing to report or submitting incorrect reports to the FINRA Trade Reporting Facility (TRF) in at least 706 instances. During this same period, Wolverine also failed to report accurate order information to the Order Audit Trail System (OATS) in 31 instances, in violation of FINRA Rules 7450 and 2010, and violated FINRA Rules 7440 and 2010 by failing in 15 instances to record and preserve order event information. Additionally, during Q1 2018, the firm violated Regulation NMS (Reg NMS) Rule 606, promulgated under the Exchange Act, and FINRA Rule 2010, by failing to disclose all material aspects of its relationship with significant execution venues, including a description of any payment for order flow (PFOF) arrangement between the firm and any such execution venue. Finally, Wolverine violated FINRA Rules 3110(a) and (b) and 2010 by failing to establish and maintain supervisory systems, including written supervisory procedures (WSPs), reasonably designed to achieve compliance with the above-cited rules.
Gana Weinstein LLP has successfully litigated broker disputes through verdict or settlement. We represent both individuals and institutions throughout the country in FINRA arbitration, as well as commercial litigation in state and federal courts. Our consultations are both free and thorough and our securities litigation attorneys can help you uncover wrongful activity in your account.