According to the regulator’s orders — between 2018 and 2024 for Wells Fargo, and between 2022 and 2024 for Merrill Lynch — ...

The SEC disclosed 7 actions against alleged misbehavior with only three days left for the Biden administration.

Scott J. Mason of Rubicon Wealth Management defrauded at least 13 advisory clients out of more than $20 million, spending it ...

In the enforcement actions announced Friday, the regulator said the two firms agreed to settle the charges without admitting ...

Regulators took the wirehouses to task for not having policies directing advisors to consider clients' best interests.

The yield differential between the firms' bank deposit sweep programs and other alternatives was nearly 4% higher, according to SEC claims.

The firms failed to consider the best interests of clients when selecting cash sweep programs, the agency said.

“Wells Fargo Advisors and Merrill Lynch offered bank deposit sweep programs, or BDSPs, as the only cash sweep option for most advisory clients and received a significant financial benefit from ...

Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were ...

Honda's U.S. financing arm was ordered on Friday by the U.S. Consumer Financial Protection Bureau to pay $12.8 million for ...

Merrill and Wells are facing a total of at least 11 lawsuits related to the interest rates in their cash sweep programs, and ...

The units charged by the SEC consented to the entry of orders without admitting or denying the SEC's findings. Wells Fargo Clearing Services agreed to pay a civil penalty of $28 million, Wells Fargo ...