Wells Fargo ordered to repay customers who lost money on complex securities

An investment industry regulator has ordered Wells Fargo to pay $3.4 million to brokerage customers who lost money buying complicated securities that even Wells Fargo brokers didn’t fully understand. The Financial Industry Regulatory Authority, or Finra, said Monday that some Wells Fargo representatives mistakenly thought a kind of complex security linked to the popular Vix market-volatility… Please follow and like us:

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SEC Nabs 3 Brokers for Excessive Trading

The Securities and Exchange Commission charged three New York-based brokers with making unsuitable recommendations that resulted in substantial losses to customers and hefty commissions for the brokers. One of the brokers agreed to pay more than $400,000 to settle the charges. An SEC examination of the firm Alexander Capital L.P. detected potential misconduct among certain brokers,… Please follow and like us:

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