Wells Fargo is fined for violations related to variable annuity switches: FINRA
By Syndicated ContentSep 2, 2020 | 10:51 AM
(Reuters) – Wells Fargo & Co agreed to pay $2.1 million in fines and restitution to settle charges it failed to properly supervise brokers’ recommendations that customers sell variable annuities and use proceeds to buy other investments, the Financial Industry Regulatory Authority said on Wednesday.