The Securities and Exchange Commission recently imposed sanctions including monetary penalties for breach of ‘insider trading’ activity rules and procedures.

Wells Fargo Advisors LLC admitted that despite their policies and procedures which prohibit their financial advisors and representatives from using nonpublic ‘inside information’,  that supervision at Wells Fargo Advisors failed to sufficiently investigate red flags and failed to enforce Wells Fargo’s own policies and procedures against the use of inside information.

Wells Fargo agreed to pay a $5 million penalty and agreed to retain an independent consultant to make recommendations to the SEC for changes or improvements to the enforcement of Wells Fargo Advisors’ policies and procedures.

If you believe that you have been the victim of sales practice abuse by Wells Fargo Advisors, call Attorney Howard Rosenfleld for a free confidential conference at 860.677.4334, or use the contact form at