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August 09, 2019
NFA orders San Francisco, Calif. swap dealer Wells Fargo Bank, N.A. to pay a $2,500,000 fine
August 9, ChicagoNFA has ordered San Francisco, Calif. swap dealer Wells Fargo Bank, N.A. (Wells Fargo Bank) to pay a $2,500,000 fine.
The Decision, issued by NFA's Business Conduct Committee (BCC), is based on a Complaint issued by the BCC and a settlement offer submitted by Wells Fargo Bank. The BCC found that Wells Fargo Bank failed to communicate with a counterparty in a fair and balanced manner.