
The Financial Industry Regulatory Authority fined Southwest Securities, Inc., of Dallas, $650,000 for deficiencies in due diligence, risk assessment and written supervisory procedures that permitted one of its correspondent firms, Cutler Securities, to create risk for Southwest through improper short sales. For more info visit https://www.finra.org/media-center/news-releases/2011/finra-fines-southwest-securities-inc-650000-compliance-failures