Supervisory Failures Allegedly Resulted in Unsuitable Trades and Rollovers
Wells Fargo Clearing Services and Wells Fargo Advisors have arrived at a settlement with the Financial Industry Regulatory Authority (FINRA).
The two broker-dealers will pay $3.1M for purportedly not setting up and maintaining a supervisory system that complied with the self-regulatory organization’s (SRO’s) rules involving early unit investment trust (UIT) rollover trading. FINRA’s action is its final one in its targeted probe into the sale of UITs.
The post Two Wells Fargo Broker-Dealers to Pay $3.1M in FINRA’s UIT Investigation appeared first on Investor Lawyers Blog.
from Texas Bar Today https://ift.tt/3J4JMQV
via Abogado Aly Website
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