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The bank’s broker-dealer in St. Louis has settled with the SEC over charges of AML shortcomings.
Wells Fargo Advisors, the St. Louis, Missouri-based broker-dealer unit of the well-known stagecoach banking brand, will pay seven million dollars to settle SEC charges that it failed to “file at least 34 Suspicious Activity Reports (SARs) in a timely manner between April 2017 and October 2021.” Those suspicious activity reports that were not filed included...
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