Broker's Lax ACH Monitoring Led To $330K Theft, FINRA Says

By Emilie Ruscoe

A broker-dealer that was once a unit of Oregon-headquartered Umpqua Bank has agreed to pay $225,000 to the Financial Industry Regulatory Authority after self-reporting supervisory oversights that enabled unauthorized parties to siphon over $330,000 out of a customer's account.

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