8 big SEC enforcement trophies in fiscal 2018
In June, the SEC fined Wells Fargo Advisors $4 million and ordered the firm to pay investors $1.1 million in restitution for the inappropriate sales of complex products known as market-linked investments. From January 2009 to June 2013, some Wells reps recommended that clients redeem the complex products they held and purchase new, similar products without adequately determining the transaction was suitable for the investors.