The Securities and Exchange Commission announced on Tuesday that Wells Fargo Advisors has agreed to settle charges of misconduct in the sale of financial products known as market-linked investments, or MLIs, to retail investors.
Wells Fargo Advisors (WFA) is a Delaware limited liability company with its principal place of business in St. Louis, Missouri. It is wholly owned by Wachovia Securities Financial Holdings, which is a wholly owned subsidiary of Wells Fargo & Co. WFA has been registered with the SEC as a broker-dealer since 1987 and as an investment adviser since 1990.
