TITLE

Wells Fargo Unit To Pay $1.9M in ARS Settlement

AUTHOR(S)
Ackerman, Andrew
PUB. DATE
November 2009
SOURCE
American Banker;11/19/2009, Vol. 174 Issue 209, p16
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports that the North American Securities Administrators Association, representing U.S. state securities regulators, have reached a settlement in its civil complaint against Wells Fargo & Co. over the bank's marketing of so-called auction-rate securities. Under the terms of the agreement, Wells Fargo will pay $1.9 million in penalties and buy back about $1.4 billion of the illiquid securities.
ACCESSION #
45400660

 

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