According to Reuters,
There are allegations of customer records being altered to pass internal auditing.
SEC spokesman John Nester declined comment to Reuters.
According to Fidelity spokeswoman Anne Crowley, the situation was discovered last year but "it didnt affect company financial statements or hurt Fidelity customers," she told Reuters. "We identified issues relating to documentation at certain investor centers. We identified these last year. We took immediate action to correct the problem and brought it to the attention of our regulators. And we have been working with regulators on these issues."
The Wall Street Journal reported that the authorities are concerned whether Fidelitys regional managers compensation depends on these internal audit documents.