Wells Fargo will pay $35m to settle ETF investigation

Wells Fargo | February 28, 2020

Wells Fargo agreed to pay $35m to settle regulatory claims that its financial advisers recommended exchange-traded funds that were too risky for some clients. The Securities and Exchange Commission’s investigation targeted Wells Fargo’s sale of inverse ETFs, a type of fund that moves in the opposite direction of an index it tracks. Inverse ETFs can be used to hedge other positions or bet on a falling market, but the products are complex enough that regulators have warned for years they are unsuitable for many individual investors.

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The Challenge: Steinway Musical Instruments, Inc., a leading manufacturer and distributor of musical instruments, was accounting for their leases manually through the utilization of multiple spreadsheets, prior to implementing the new ASC 842 lease accounting standard. The Solution: As a Sage Fixed Assets customer, Steinway had


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Spotlight

The Challenge: Steinway Musical Instruments, Inc., a leading manufacturer and distributor of musical instruments, was accounting for their leases manually through the utilization of multiple spreadsheets, prior to implementing the new ASC 842 lease accounting standard. The Solution: As a Sage Fixed Assets customer, Steinway had

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