Violation Tracker Individual Record

Company: 
Wells Fargo Advisors LLC
Current Parent Company: 
Wells Fargo
Penalty: 
$5,000,000
Year: 
2014
Date: 
September 22, 2014
Primary Offense: 
securities issuance or trading violation
Violation Description: 

The Securities and Exchange Commission announced that Wells Fargo Advisors LLC settled allegations of failing to maintain adequate controls to prevent one of its employees from insider trading based on a customer's nonpublic information. The SEC also charged Wells Fargo for unreasonably delaying its production of documents during the SEC's investigation and providing an altered internal document related to a compliance review of the broker's trading.

Level of Government: 
federal
Action Type: 
agency action
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
USA
HQ State of Parent: 
California
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
banking
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.