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Wells Fined For Selling Structured Notes To Elderly

The Financial Industry Regulatory Authority has fined Wells Fargo USD2 million for failing to supervise a salesman who sold reverse convertibles to elderly investors.

  • 16 Dec 2011

The Financial Industry Regulatory Authority has fined Wells Fargo USD2 million for failing to supervise a salesman who sold reverse convertibles to elderly investors. The structured notes are considered unsuitable for that age group.

Click here to read the release from FINRA

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Bond Comments

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