SEC Charges Pair of Wells Fargo Advisory Firms and Merrill Lynch …

Jan 17, 2025 · The firms agreed to settle the SEC’s charges and pay $60 million in total civil penalties. According to the SEC’s orders, Wells Fargo Advisors and Merrill Lynch offered bank …

CouponFollow Extension

$60
OFF

SEC Charges Pair Of Wells Fargo Advisory Firms And Merrill Lynch …

2 weeks from now

Jan 17, 2025 · The firms agreed to settle the SEC’s charges and pay $60 million in total civil penalties. According to the SEC’s orders, Wells Fargo Advisors and Merrill Lynch offered bank …

sec.gov

$60000000
OFF

Wells Fargo And Merill Lynch Paying $60,000,000 Fine For Allegedly ...

2 weeks from now

Jan 25, 2025 · Wells Fargo and Merill Lynch settled with the SEC without admitting or denying the regulator’s findings. Wells Fargo has agreed to pay a $35 million civil penalty while Merill …

dailyhodl.com

$60
OFF

Wells Fargo, Merrill Lynch Pay $60M To Settle Cash Sweep Charges

2 weeks from now

Jan 17, 2025 · Wells Fargo Clearing Services agreed to pay $28 million in civil penalties, Wells Fargo Advisors Financial Network will pay $7 million, and Merrill Lynch will pay $25 million.

wealthmanagement.com

$60
OFF

Wells Fargo Firms, Merrill Lynch To Pay $60 Million To Settle SEC …

2 weeks from now

Jan 17, 2025 · Merrill Lynch agreed to pay a $25 million fine as part of the settlement with the SEC. (Reporting By Chris Prentice in New York and Susan Heavey in Washington, Editing by …

usnews.com

$60
OFF

Wells Fargo Advisory Firms, Merrill Lynch To Pay $60M To Settle SEC ...

2 weeks from now

Jan 17, 2025 · Wells Fargo Clearing Services agreed to pay a civil penalty of $28M; Wells Fargo Advisors Financial Network agreed to pay a civil penalty of $7M; and Merrill Lynch agreed to …

businessinsider.com

$60
OFF

SEC Fines Wells, Merrill $60 Million Combined Over Cash Sweep ...

2 weeks from now

Jan 17, 2025 · The Securities and Exchange Commission fined Wells Fargo Advisors and Merrill Lynch a combined $60 million for failing to pay advisory customers a fair rate on cash sweeps, …

advisorhub.com

$60
OFF

Wells Fargo, Merrill Lynch, LPL Settle SEC Charges

2 weeks from now

Jan 21, 2025 · Dive Brief: Two Wells Fargo-affiliated investment advisers and Merrill Lynch agreed to pay $60 million to settle charges with the Securities and Exchange Commission over …

bankingdive.com

$60
OFF

SEC Slams Wells Fargo, Merrill With $60 Million In Penalties Over ...

2 weeks from now

Jan 17, 2025 · Wells Fargo Clearing Services agreed to pay a civil penalty of $28 million; Wells Fargo Advisors Financial Network, or FiNet, agreed to pay a civil penalty of $7 million; and …

investmentnews.com

$60
OFF

Wells Fargo, Merrill Settle SEC 'sweeps' Probe For $60M

2 weeks from now

Jan 17, 2025 · Wells Fargo and Merrill Lynch agreed Friday to pay $60 million in total to settle SEC allegations that they didn't do enough to consider clients' best interests when placing …

financial-planning.com

$60
OFF

Wells Fargo, Merrill Fined $60M For Low Cash Sweep Rates, SEC Says

2 weeks from now

Jan 17, 2025 · Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to settle Securities and Exchange Commission charges that they …

fa-mag.com

$60
OFF

SEC Penalizes Wells Fargo, Merrill Lynch Over Cash Sweep Accounts

2 weeks from now

Merrill Lynch and two units of Wells Fargo have agreed to pay $60 million in combined penalties to settle Securities and Exchange Commission charges that they failed to consider the best …

barrons.com

$60
OFF

SEC Fines Wells Fargo And Merrill Lynch $60 Million For Cash Sweep ...

2 weeks from now

Jan 20, 2025 · The SEC found that both Wells Fargo and Merrill Lynch offered bank deposit sweep programs (BDSPs) as the default option for most advisory clients. These programs …

financefeeds.com

$60
OFF

Wells Fargo & Merrill Lynch Penalized $60 Million For Compliance …

2 weeks from now

Jan 21, 2025 - Compliance & Ethics - The Securities and Exchange Commission (SEC) has recently announced settlements with Wells Fargo and Merrill Lynch over compliance failures …

grcreport.com

$60
OFF

Wells Fargo, Merrill To Pay $60M Over Cash Sweeps - ThinkAdvisor

2 weeks from now

Jan 17, 2025 · Wells Fargo Advisors and Merrill Lynch offered bank deposit sweep programs (BDSPs) as the only cash sweep option. The firms failed to consider the best interests of …

thinkadvisor.com

$60
OFF

Wells Fargo Firms, Merrill Lynch To Pay $60 Million To Settle SEC ...

2 weeks from now

Jan 17, 2025 · Merrill Lynch agreed to pay a $25 million fine as part of the settlement with the SEC. Wells Fargo firms, Merrill Lynch to pay $60 million to settle SEC charges. View all …

investing.com

$60
OFF

Wells Fargo, Merrill To Pay $60 Million Penalties Over Cash Sweep …

2 weeks from now

M errill Lynch and two units of Wells Fargo have agreed to pay $60 million in combined penalties to settle Securities and Exchange Commission charges that they failed to consider the best …

msn.com

$60
OFF

Wells Fargo Firms, Merrill Lynch To Pay $60 Million To Settle SEC …

2 weeks from now

(Reuters) - The U.S. Securities and Exchange Commission (SEC) on Friday said a pair of Wells Fargo Advisory firms and Merrill Lynch have agreed to pay a combined $60 million in civil …

msn.com

$60
OFF

Wells Fargo, Merrill Lynch Agree To Pay $60 Million In SEC …

2 weeks from now

Jan 17, 2025 · Wells Fargo & Company is one of the leading American banking groups. Its activity is organized around 3 lines of business: - retail and commercial banking: sales of standard and …

marketscreener.com

$60000000
OFF

Wells Fargo And Merill Lynch Paying $60,000,000 Fine For Allegedly ...

2 weeks from now

Wells Fargo and Merill Lynch Paying $60,000,000 Fine for Allegedly Shortchanging Customers While Making Bank on Client Cash Henry Kanapi 2025.01.26 01:48 Two Wall Street titans are …

block.cc

$60000000
OFF

Wells Fargo And Merill Lynch Paying $60,000,000 Fine For Allegedly ...

2 weeks from now

Two Wall Street titans are shelling out a combined $60 million to the U.S. Securities and Exchange Commission for allegedly serving their own interests at the detriment of clients. The …

coinlive.com

FAQs about SEC Charges Pair of Wells Fargo Advisory Firms and Merrill Lynch … Coupon?

Did Merrill Lynch & Wells Fargo pay a $60 million civil penalty?

Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to settle Securities and Exchange Commission charges that they failed to pay advisory clients a competitive rate on cash sweep accounts, the agency said today. ...

How much did Wells Fargo pay Merrill Lynch?

The Securities and Exchange Commission fined Wells Fargo Advisors and Merrill Lynch a combined $60 million for failing to pay advisory customers a fair rate on cash sweeps, according to an announcement on Friday. Wells agreed to pay $35 million, including $7 million tied to violations at its independent Financial Network channel. ...

Did Wells Fargo and Merrill Lynch deny SEC findings?

The firms did not admit or deny the SEC’s findings but agreed to a censure and cease and desist from violating the charged provisions. Wells Fargo Clearing Services agreed to pay $28 million in civil penalties, Wells Fargo Advisors Financial Network will pay $7 million, and Merrill Lynch will pay $25 million. ...

How did Wells Fargo & Merrill Lynch deal with the SEC?

The firms agreed to settle the SEC’s charges and pay $60 million in total civil penalties. According to the SEC’s orders, Wells Fargo Advisors and Merrill Lynch offered bank deposit sweep programs (BDSPs) as the only cash sweep option for most advisory clients and received a significant financial benefit from advisory client cash in the BDSPs. ...

How much did Wells Fargo pay Merrill & Merrill?

Wells Fargo agreed to pay $35 million, including $7 million tied to violations at its independent Financial Network channel. Merrill agreed to pay a civil penalty of $25 million. Both firms also agreed to a censured and to cease and desist from violating securities laws. ...

Did Wells Fargo & Merrill Lynch fail a cash sweep program?

The yield differential between the firms' bank deposit sweep programs and other alternatives was nearly 4% higher, according to SEC claims. The Securities and Exchange Commission has charged two registered investment advisor units of Wells Fargo and Merrill Lynch with compliance failures relating to their cash sweep programs. ...