SEC Probing Wells Fargo Around Sales-Practice Disclosures

The Securities and Exchange Commission is probing whether Wells Fargo & Co. violated rules around investor disclosures and other matters relating to its recent sales tactics scandal, people familiar with the matter said.

The SEC sent requests for information to the bank asking for documents in recent weeks, following three Democratic senators’ calls in late September for the SEC to investigate whether Wells Fargo misled investors and violated whistleblower protections while allegedly engaged in illegal sales practices, one of these people said. The probes are in an “early stage,” this person added.

Read on.

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