By Kyle Brasseur2024-01-22T14:00:00
An affiliate of Wells Fargo agreed to pay a $425,000 penalty as part of a settlement with the Financial Industry Regulatory Authority (FINRA) addressing allegations of disclosure lapses affecting millions of trade confirmations and related supervisory failures.
Wells Fargo Securities’ supervisory system was not reasonably designed to achieve compliance with Exchange Act Rule 10b-10 and FINRA Rule 2232, the self-regulatory organization said in its disciplinary action published Friday.
From June 2015 to August 2021, Wells Fargo sent institutional customers approximately 2.27 million trade confirmations that did not disclose, for orders effected via multiple executions, the prices reported were average prices and that details on the average prices could be provided upon request, according to FINRA.
2024-02-16T19:21:00Z By Aaron Nicodemus
Morgan Stanley will pay a $1.6 million fine levied by the Financial Industry Regulatory Authority for failing to close out certain municipal securities transactions over a five-year period.
2024-02-07T21:06:00Z By Aaron Nicodemus
The Financial Industry Regulatory Authority fined Goldman Sachs $512,500 for allegedly failing to properly surveil certain types of securities for potential manipulative trading activity for more than a decade.
2024-01-09T18:09:00Z By Aaron Nicodemus
A new report from the Financial Industry Regulatory Authority provides observations from examiners on emerging issues affecting the industry, including surveilling potential use of off-channel communications by employees, crypto-asset developments, cybersecurity trends, and more.
2025-09-17T17:20:00Z By Adrianne Appel
A Florida seafood company executive has pleaded guilty to conspiring with competitors to fix the prices he paid to local fishers, an effort that impacted more than $8 million in wholesale fish and cut the pay of hundreds of fishers, the Department of Justice said.
2025-09-16T20:11:00Z By Adrianne Appel
The former CEO of a Georgia clothing business faces 25 years in prison for bribing Honduran officials to win $10 million in uniform contracts in Honduras, after being caught up in a Department of Justice Anticorruption Task Force.
2025-09-12T19:40:00Z By Oscar Gonzalez
The DOJ sued Uber Thursday, alleging it violated the Americans with Disabilities Act (ADA) by denying people with disabilities equal access to its services.
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