SEC fines Wells Fargo $35M, Merrill Lynch $25M over improper cash sweeps
Wells Fargo and Merrill Lynch will pay $35 million and $25 million, respectively, to settle allegations by the Securities and Exchange Commission (SEC) that their handling of investment accounts’ cash sweep programs violated federal law.
https://www.complianceweek.com/regulatory-enforcement/sec-fines-wells-fargo-35m-merrill-lynch-25m-over-improper-cash-sweeps/35798.article