When Process Failures Cost $100K: What DriveWealth’s ACATS Violation Teaches Us About Operational Risk Management
FINRA’s June 9, 2025 enforcement action against DriveWealth, LLC—resulting in a $100,000 fine and censure—offers a sobering reminder that operational failures don’t just create customer service headaches, they create regulatory violations with real financial consequences. The facts are stark: Over 28 months (June 2020 through October 2022), DriveWealth failed to expedite 1,206 outgoing full transfer […]