FINRA Fines Webull $3 Million for Options Customer Approval Violations

Firm Also Failed to Maintain Supervisory System, Report Customer Complaints

WASHINGTON—FINRA announced today that it has fined Webull Financial LLC $3 million for not exercising reasonable due diligence before it approved customers for options trading; not maintaining a supervisory system reasonably designed to identify and respond to customer complaints; and not reporting certain written customer complaints to FINRA as required.