FINRA fines Wells Fargo for deficiencies in safeguarding customer information

FINRA Fines Wells Fargo Clearing Services For Supervisory System Failures

The regulator said the company failed to maintain adequate safeguards for customer information over an eight-year period. Between January 2014 and March 2022, FINRA claims it found that Wells Fargo did not have a supervisory system or written procedures reasonably designed to protect client data.  They explained that when certain registered representatives left the firm, Wells Fargo failed to notify insurance carriers, allowing the former repres…

FINRA fines Wells Fargo for deficiencies in safeguarding customer information

Wells Fargo Clearing Services, LLC has agreed to pay a fine of $150,000 as a part of a settlement with FINRA. The post FINRA fines Wells Fargo for deficiencies in safeguarding customer information appeared first on FX News Group.