ニュース / stocks

SEC Charges Wells Fargo In Connection With Investment Recommendation Practices

The Securities and Exchange Commission today announced settled charges against Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network for failing…

資料アーカイブ · 2020-02-27

過去に公表された資料の抜粋です。数値、規則、案件の状況は公表後に変わっている場合があります。調査用の資料として掲載しています。

Read original source

The Securities and Exchange Commission today announced settled charges against Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network for failing reasonably to supervise investment advisers and registered representatives who recommended single-inverse ETF investments to retail investors, and for lacking adequate compliance policies and procedures with respect to the suitability of those recommendations. The SEC ordered Wells Fargo to pay a $35 million penalty, which will be distributed to harmed investors. As noted in the SEC's order and reflected in Wells Fargo's internal guidance, when single-inverse ETFs are held for longer than a day, particularly in volatile markets, investors may experience large and unexpected losses.

Research sources & methodology

Original sources and publication references.

コミュニティ

Tell us what you are researching. We will review your request.