NOT FOR REPRINT
Wells Fargo Clearing to Pay $3M Over Reps' Unsuitable Trades
News September 13, 2024 at 11:12 AM
Share & Print
What You Need To Know
- Wells Fargo Clearing failed to supervise a former registered rep as well as 40 other reps' unsuitable short-term trading.
- The trading involved syndicate preferred stock, closed-end funds and medium-term notes.
- Trading in these securities, which are typically held for long periods, is subject to potential abuse by reps, FINRA says.
NOT FOR REPRINT
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
