Firms agree to pay civil penalties of $60 million combined to settle SEC charges January 17, 2025/US SEC The Securities and Exchange Commission today announced settled charges against registered investment advisers Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC (collectively Wells Fargo Advisors) and against Merrill […]
Frauds & Scandals
SEC Charges Pair of Wells Fargo Advisory Firms and Merrill Lynch with Compliance Failures Relating to Cash Sweep Programs
Firms agree to pay civil penalties of $60 million combined to settle SEC charges January 17, 2025/US SEC The Securities and Exchange Commission today announced settled charges against registered investment advisers Wells Fargo Clearing Services LLC and Wells Fargo Advisors Financial Network LLC (collectively Wells Fargo Advisors) and against Merrill […]
SEC Charges Paul McCabe and PMAC Consulting with Acting as Unregistered Brokers for Pre-IPO Stocks
McCabe engaged in unregistered broker activity after FINRA bar January 17, 2025/US SEC The Securities and Exchange Commission today announced that Paul John McCabe Jr. and his unregistered firm PMAC Consulting LLC have agreed to pay $3 million to resolve SEC charges for illegally brokering transactions involving the stock of […]
