Defendant Name: Wells Fargo Clearing Services, LLC

Defendant Type: Subsidiary of Public Company
Public Company Parent: Wells Fargo & Co.
SIC Code: 6021
CUSIP: 94974610

Initial Case Details

Legal Case Name In the Matter of Wells Fargo Clearing Services, LLC
First Document Date 20-Dec-2024
Initial Filing Format Administrative Action
File Number 3-22373
Allegation Type Broker Dealer

Violations Alleged

Other
• Section 17(a)(1) Exchange Act; Rule 17a-4(j), 17a-25

Resolutions

First Resolution Date 20-Dec-2024
Headline Total Penalty and Disgorgement

See Related Documents

Related Documents:

34-102009 20-Dec-2024 Administrative Proceeding
Order Instituting Administrative and Cease-and-desist Proceedings, Pursuant to Sections 15(b) and 21C of the Securities Exchange Act of 1934 and Section 203(e) of the Investment Advisers Act of 1940, Making Findings, and Imposing Remedial Sanctions and a Cease-and-desist Order
On December 20, 2024, the SEC instituted settled administrative and cease-and-desist proceedings against Wells Fargo Clearing Services, LLC, stating: "This proceeding arises out of Respondent’s failure to submit to the Commission complete and accurate data in response to Commission staff electronic blue sheets (“EBS”) requests, resulting in the reporting of EBS that was incomplete or deficient. Respondent self-identified and self-reported all but one of the errors that underly this Order, including five errors that were self-reported prior to any regulatory inquiry concerning its EBS."
2024-207_3-22373 20-Dec-2024 Press Release--Administrative Proceeding
Wells Fargo and LPL Financial Charged for Submitting Deficient Trading Data to SEC
On December 20, 2024, the SEC "today announced settled charges against Wells Fargo Clearing Services LLC . . . for failing to provide complete and accurate securities trading information, known as blue sheet data, to the SEC. Wells Fargo . . . agreed to pay a $900,000 civil penalty to resolve the SEC's charges."