Wells Fargo Broker Dealers Ordered by FINRA to Pay $3.4 Million in Restitution for Sale Practices Involving Volatility-Linked Exchange Traded Products (ETPs)
Wells Fargo Advisors Financial Network, LLC and Wells Fargo Clearing Services, LLC have been ordered by the Financial Industry Regulatory Authority (FINRA) to pay over $3.4 million as restitution to customers relating to “unsuitable recommendations of volatility-linked exchange traded products (ETPs) and related supervisory failures.” It was discovered by FINRA that Wells Fargo’s registered representatives,…