Investment adviser units of Wells Fargo & Co. and Bank of America Corp.’s Merrill shortchanged customers by funneling uninvested cash into sweep accounts that benefited the banks but not their clients, the US Securities and Exchange Commission alleged Friday.
Wells Fargo, Merrill Cash-Sweep Accounts Shortchanged Clients, SEC Alleges
Estimated read time
1 min read
+ There are no comments
Add yours