Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to settle U.S.

Two Wells Fargo-affiliated investment advisers and Merrill Lynch agreed to pay $60 million, while LPL Financial agreed to pay ...

Advisory clients’ uninvested dollars were automatically swept into bank accounts that paid paltry interest, but were profitable for the companies, the SEC said.

“Wells Fargo Advisors and Merrill Lynch offered bank deposit sweep programs, or BDSPs, as the only cash sweep option for most ...

Two Wall Street titans are shelling out a combined $60 million to the U.S. Securities and Exchange Commission for allegedly ...

Wells Fargo and Merrill Lynch will pay $35 million and $25 million, respectively, to settle allegations by the Securities and ...

Two Wells Fargo broker-dealers agreed to pay a total of $35 million and Merrill Lynch agreed to pay $25 million to settle SEC charges of compliance failures related to their cash sweep programs. An ...

In the enforcement actions announced Friday, the regulator said the two firms agreed to settle the charges without admitting or denying any wrongdoing.

Wurm and Frye joined the financial services industry in 1997, registering with IDS Life Insurance Co., and together moved through several firms, including Prudential Securities, LPL Financial and ...

Merrill Lynch and two Wells Fargo advisory firms have agreed to pay a combined $60 million in civil penalties to settle U.S.