Defendant Name:
Wells Fargo Clearing Services, LLC
Defendant Type:
Subsidiary of Public Company
Document Reference:
2022-85
Document Details
Legal Case Name
In the Matter of Wells Fargo Clearing Services, LLC
Document Name
SEC Charges Wells Fargo Advisors With Anti-Money Laundering Related Violations
Document Date
20-May-2022
Document Format
Administrative Proceeding
Allegation Type
Broker Dealer
Document Summary
The SEC "announced charges against Wells Fargo Advisors for failing to file at least 34 Suspicious Activity Reports (SARs) in a timely manner between April 2017 and October 2021. Wells Fargo Advisors, the St. Louis-based broker-dealer, has agreed to pay $7million to settle the charges."
Disgorgement & Penalty Information
Resolutions
Cease and Desist Order
Censured
Monetary Penalties:
Civil Penalty
Individual:
$7,000,000.00
Shared: