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FINRA Panel Rules that Wells Fargo Violated Nevada’s New Fiduciary Rule

In a landmark arbitration decision, the Financial Industry Regulatory Authority ruled that Wells Fargo must pay investor Ann De Jong, an emergency room physician,...

Massachusetts Fines Wells Fargo $450,000 over Unregistered Agents and Supervisors

The Massachusetts Securities Division has fined Wells Fargo $450,000 for failing to ensure that its agents and supervisors were appropriately registered in Massachusetts. Wells Fargo...

Wells Fargo Names New President of Brokerage Unit

Wells Fargo Advisors, the brokerage unit of Wells Fargo & Company (NYSE: WFC), has named Jim Hays as its new president. Hays, based in St....

Wells Fargo Names New Head of Asset Management Unit

Wells Fargo & Co. (NYSE: WFC), a financial services company with $1.9 trillion in assets, has appointed Nico Marais as chief executive officer and...

Principal Financial Group to Buy Wells Fargo Retirement Unit for $1.2...

Wells Fargo & Company (NYSE: WFC) has agreed to sell its retirement plan services unit to Principal Financial Group (Nasdaq: PFG) for $1.2 billion...

Wells Fargo’s Tim Sloan Abruptly Steps Down as President and CEO

Wells Fargo & Company’s (NYSE: WFC) chief executive officer and president Timothy Sloan has stepped down as CEO, president, and director, effective immediately. The bank...

SEC Obtains $1.1 Million Judgment Against Former Broker

An Ohio federal court entered a consent judgment against John Gregory Schmidt, a former registered representative of Wells Fargo Advisors Financial Network and Stifel,...

LPL Financial Adds $360 Million Team from Wells Fargo Advisors

LPL Financial, the nation’s largest independent broker-dealer, has added Harbor Financial Group to its broker-dealer and corporate registered investment advisor platforms. The firm joined...

InvenTrust Closes $750 Million Unsecured Credit Facility

InvenTrust Properties Corporation, a publicly registered non-traded real estate investment trust, has closed on a $750 million amended and restated unsecured credit facility, increasing...

Former Wells Fargo Rep Receives 128-Count Indictment for Investment Fraud

John Gregory Schmidt, a former Wells Fargo Advisors Financial Network registered representative, has been indicted on 128 counts for conducting a million-dollar Ponzi scheme...