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Violation Tracker Individual Record

Company: Wells Fargo Advisors, LLC
Current Parent Company: Wells Fargo
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $1,000,000
Year: 2011
Date: May 5, 2011
Offense Group: financial offenses
Primary Offense: investor protection violation
Violation Description: The Financial Industry Regulatory Authority fined Wells Fargo Advisors, LLC of St. Louis, $1 million for its failure to deliver prospectuses in a timely manner to customers who purchased mutual funds in 2009, and for delays in reporting material information about its current and former representatives, including arbitrations and complaints involving its representatives.
Level of Government: federal
Action Type: agency action
Agency: Financial Industry Regulatory Authority
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: California
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
Notes: FINRA is a securities industry self-regulatory body authorized by the federal government.
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.