Regulatory relief

There's a better way to craft a standard that would protect investors and preserve client choice.

Jay Clayton represented the bank in connection with the $10 billion bailout it received in 2008 as part of the government’s $700 billion rescue of banks during the financial crisis.

The regulator is concerned that Wells Fargo did not follow proper procedures in notifying former reps of their U5 filings and that the information contained in them was not correct.

The industry trade group is also calling on regulators to harmonize existing rules.

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