Securities fraud

A recent report about bad incentives for brokers "did not accurately reflect how we do business and serve our clients," said Jon Weiss, head of wealth and investment management.

Merrill Robertson Jr. had previously been sentenced to 40 years in prison in a separate criminal case.

The Justice Department disclosed a felony probe the day before the broker’s termination.

Many of the trades should have triggered market manipulation concerns because they involved companies that were barely operating but engaging heavily in promotional activity, the SEC says.

The broker misappropriated his clients’ investment money for rent, credit card bills and other personal uses, investigators say.

Barry Snyder’s complaint depicts him as a victim of federal investigators and the bank, with both sides threatening to turn on him.

The regional BD failed to properly document its own investigations in the matter, and couldn't answer some SEC questions about who knew what and when, the regulator says.

The two IBDs have agreed to pay restitution in one of the largest securities fraud cases in the advisor’s home state.

The bank sometimes ignored the advice of its own diligence vendors in packaging and selling loans.

Massachusetts is probing whether the firm's wealth management unit steered clients toward inappropriate investments and high-cost accounts.

Citing mounting investor losses from unpaid arbitration awards, investor advocates see a role for Congress to force FINRA's hand.

One recruiter says, "If I'm an advisor at Wells Fargo right now, I have to ask myself is this the firm I want to tie my future to?"

Steven Spielberg, Leonardo DiCaprio, Ben Affleck and even members of the Kardashian circle have been hurt by financial fraud. Here’s how advisors have conned celebrities.

The beleaguered bank is reported to have been ordered by the Justice Department in late 2017 to conduct an independent investigation of the business.

Spanning 50 federal districts, the case involves criminal and civil charges for as many as 200 defendants.

Advisor "reaped substantial profits" from 65 clients by using block accounts, the regulator says.

The advisor tricked investors into thinking they would get their money back, with a return, in four to eight years, but they haven't seen a penny returned, the Massachusetts regulator claimed.

Thomas Buck spent 33 years with Merrill Lynch before he was fired in 2015.

The stolen funds went to pay for his daughter’s college expenses and to reimburse other clients, according to federal prosecutors.

Investigators say the broker spent his clients’ money on luxury cars and home improvements.