Wells Fargo Advisors, the brokerage subsidiary of Wells Fargo & Co., has agreed to pay $5.1 million to settle charges of misconduct in the sale of so-called market-linked investments (MLIs) to retail investors, the U.S. Securities and Exchange Commission said Monday. According to the order, San Francisco-based Wells Fargo (NYSE: WFC), Baltimore’s fourth-largest deposit taker, was accused of generating large fees at the expense of investor returns by improperly encouraging customers to actively…
from https://www.bizjournals.com/baltimore/news/2018/06/26/wells-fargo-investment-arm-5m-settlement-sec.html?ana=RSS&s=article_search
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