{"id":4476,"date":"2007-07-03T07:25:23","date_gmt":"2007-07-03T07:25:23","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/07\/wells_fargo_and_its_former_res_1"},"modified":"2021-09-20T15:41:36","modified_gmt":"2021-09-20T20:41:36","slug":"wells-fargo-and-its-former-res-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/wells-fargo-and-its-former-res-1\/","title":{"rendered":"Wells Fargo and its Former Research Director Fined Over Undisclosed Conflict"},"content":{"rendered":"

\t\t\t\tNASD levied a fine of $250,000 against Wells Fargo Securities LLC and $40,000 against its former research director, plus other sanctions, for failing to disclose that the lead analyst on reports issued on a company had accepted a position with that company. <\/p>\n

The research reports concerned Cadence Design Systems, which designs semi-conductors for use in the global electronics market. According to the NASD, the analyst had applied for a job with that company prior to issuance of a report in 2005, and had two job interviews prior to issuance of others, none of which was disclosed in the reports. <\/p>\n

The NASD’s sanctioning order states that the analyst was then offered a position at Cadence to earn over $300,000, plus Cadence stock and options, which she disclosed to the Wells Fargo and its head of research. Yet, weeks later Wells Fargo published a third research report favorable to Cadence, without disclosure of the hiring.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

NASD levied a fine of $250,000 against Wells Fargo Securities LLC and $40,000 against its former research director, plus other sanctions, for failing to disclose that the lead analyst on reports issued on a company had accepted a position with that company. The research reports concerned Cadence Design Systems, which designs semi-conductors for use in […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3835,3788,3836],"tags":[],"class_list":["post-4476","post","type-post","status-publish","format-standard","hentry","category-analysts","category-nasd-enforcement","category-wells-fargo"],"yoast_head":"\nWells Fargo and its Former Research Director Fined Over Undisclosed Conflict — Investor Lawyers Blog — July 3, 2007<\/title>\n<meta name=\"description\" content=\"NASD levied a fine of $250,000 against Wells Fargo Securities LLC and $40,000 against its former research director, plus other sanctions, for failing to — July 3, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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