Merrill, Wells Fargo and SEC

Wells Fargo, Merrill to Pay $60 Million Penalties Over Cash Sweep Accounts: SEC
Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were profitable for the companies, the SEC said.
Wells Fargo firms, Merrill Lynch to pay $60 mln to settle SEC charges
The U.S. Securities and Exchange Commission (SEC) on Friday said a pair of Wells Fargo Advisory firms and Merrill Lynch have agreed to pay a combined $60 million in civil penalties to settle charges over compliance failures.
Wells Fargo, Merrill Cash-Sweep Accounts Shortchanged Clients, SEC Alleges
Investment adviser units of Wells Fargo & Co. and Bank of America Corp.’s Merrill shortchanged customers by funneling uninvested cash into sweep accounts that benefited the banks but not their clients,
Wells Fargo and Bank of America Agree to Pay Combined $60 Million to Settle SEC Probe
In the enforcement actions announced Friday, the regulator said the two firms agreed to settle the charges without admitting or denying any wrongdoing.
SEC Settles Charges Against Bank of America, Wells Fargo Units
The Securities and Exchange Commission settled charges against units within Bank of America and Wells Fargo that will result in $60 million in total civil penalties. The SEC said the charges were settled against investment advisers Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network as well as Merrill Lynch,
Wells Fargo raises interest income forecast as strong dealmaking drives profit beat
Wells Fargo's profit beat expectations in the fourth quarter, powered by a rebound in dealmaking activity and forecast it ...
Wells Fargo scandal: US bank regulator fines three former executives over fake accounts
The trio had been previously charged by the OCC in 2020, alongside other former senior leadership of the bank, but had opted ...
California wildfire losses could cost as much as $40 billion: Wells Fargo's insurance analyst
Elyse Greenspan, Wells Fargo Securities managing director, joins 'Fast Money' to talk the mounting cost of the California ...
Wells Fargo Q4 Earnings: Generally Strong But Signs Of Weakening
Learn about Wells Fargo & Company's strong Q4 earnings, 2025 guidance, and stock performance, with insights on selling ...
Wells Fargo's Fourth-Quarter Profit Tops Estimates
Wells Fargo reported earnings per share of $1.43 for the fourth quarter, beating Wall Street’s consensus estimate of $1.35. A ...
Why investors seem giddy about once-troubled Wells Fargo
Wells Fargo CEO Charlie Scharf validates some of the optimism, telling analysts he feels "really great about our progress." ...
Wells Fargo CFO says office CRE fundamentals ‘remain weak’
Wells Fargo's quarterly earnings call included discussion of what the eventual lifting of the Fed-imposed asset cap would ...
InvestmentNews2d
Wells Fargo keeping focus on independent advisors in 2025
Wells Fargo & Co.’s multi-year plan to support and build its independent broker and advisor channel is to keep on rolling in ...
Wells Fargo Shares Rise as Bank’s Cost-Cutting Efforts Take Hold
Wells Fargo & Co. took a $647 million severance charge in the fourth quarter, as Chief Executive Officer Charlie Scharf ...