{"id":4746,"date":"2017-06-22T16:55:45","date_gmt":"2017-06-22T21:55:45","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4415"},"modified":"2022-03-11T13:39:28","modified_gmt":"2022-03-11T19:39:28","slug":"finra-fines-wells-fargo-3-25m-otc-options-trading-reporting","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-fines-wells-fargo-3-25m-otc-options-trading-reporting\/","title":{"rendered":"FINRA Fines Wells Fargo $3.25M Over OTC Options Trading Reporting"},"content":{"rendered":"

\t\t\t\tThe Financial Industry Regulatory Authority is ordering Wells Fargo Securities (WFC) to pay a $3.25M fine for inaccuracies and mistakes in its reporting for over-the-counter trades that took place between January 2008 and March 2017. The self-regulatory organization also has censured the firm. <\/p>\n

According to FINRA, in 2008, Wells Fargo (WFC) reviewed its OTC options trading reporting procedures. It went on to set up systems for reporting these types of trades. However, the firm\u2019s reporting system was never fully established. <\/p>\n

Wells Fargo Securities did not actually start reporting OTC options trades until after the firm achieved self-clearing status in 2014. Even then, claims the SRO, Wells Fargo either did not report or was inaccurate when reporting quite a number of these trades. <\/p>\n

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

The Financial Industry Regulatory Authority is ordering Wells Fargo Securities (WFC) to pay a $3.25M fine for inaccuracies and mistakes in its reporting for over-the-counter trades that took place between January 2008 and March 2017. The self-regulatory organization also has censured the firm. According to FINRA, in 2008, Wells Fargo (WFC) reviewed its OTC options […]<\/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":[3752,3739,3836],"tags":[2810],"class_list":["post-4746","post","type-post","status-publish","format-standard","hentry","category-financial-firms","category-finra","category-wells-fargo","tag-options-trading"],"yoast_head":"\nFINRA Fines Wells Fargo $3.25M Over OTC Options Trading Reporting — Investor Lawyers Blog — June 22, 2017<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory Authority is ordering Wells Fargo Securities (WFC) to pay a $3.25M fine for inaccuracies and mistakes in its reporting — June 22, 2017\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/finra-fines-wells-fargo-3-25m-otc-options-trading-reporting\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"FINRA Fines Wells Fargo $3.25M Over OTC Options Trading Reporting — Investor Lawyers Blog — June 22, 2017\" \/>\n<meta name=\"twitter:description\" content=\"The Financial Industry Regulatory Authority is ordering Wells Fargo Securities (WFC) to pay a $3.25M fine for inaccuracies and mistakes in its reporting — June 22, 2017\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FINRA Fines Wells Fargo $3.25M Over OTC Options Trading Reporting — Investor Lawyers Blog — June 22, 2017","description":"The Financial Industry Regulatory Authority is ordering Wells Fargo Securities (WFC) to pay a $3.25M fine for inaccuracies and mistakes in its reporting — June 22, 2017","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.investorlawyers.com\/blog\/finra-fines-wells-fargo-3-25m-otc-options-trading-reporting\/","twitter_card":"summary_large_image","twitter_title":"FINRA Fines Wells Fargo $3.25M Over OTC Options Trading Reporting — Investor Lawyers Blog — June 22, 2017","twitter_description":"The Financial Industry Regulatory Authority is ordering Wells Fargo Securities (WFC) to pay a $3.25M fine for inaccuracies and mistakes in its reporting — June 22, 2017","twitter_misc":{"Written by":"Shepherd Smith Edwards & Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/finra-fines-wells-fargo-3-25m-otc-options-trading-reporting\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/finra-fines-wells-fargo-3-25m-otc-options-trading-reporting\/"},"author":{"name":"Shepherd Smith Edwards & Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"FINRA Fines Wells Fargo $3.25M Over OTC Options Trading Reporting","datePublished":"2017-06-22T21:55:45+00:00","dateModified":"2022-03-11T19:39:28+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/finra-fines-wells-fargo-3-25m-otc-options-trading-reporting\/"},"wordCount":361,"keywords":["options trading"],"articleSection":["Financial Firms","FINRA","Wells Fargo"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/finra-fines-wells-fargo-3-25m-otc-options-trading-reporting\/","url":"https:\/\/www.investorlawyers.com\/blog\/finra-fines-wells-fargo-3-25m-otc-options-trading-reporting\/","name":"FINRA Fines Wells Fargo $3.25M Over OTC Options Trading Reporting — Investor Lawyers Blog — June 22, 2017","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#website"},"datePublished":"2017-06-22T21:55:45+00:00","dateModified":"2022-03-11T19:39:28+00:00","author":{"@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"description":"The Financial Industry Regulatory Authority is ordering Wells Fargo Securities (WFC) to pay a $3.25M fine for inaccuracies and mistakes in its reporting — June 22, 2017","breadcrumb":{"@id":"https:\/\/www.investorlawyers.com\/blog\/finra-fines-wells-fargo-3-25m-otc-options-trading-reporting\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.investorlawyers.com\/blog\/finra-fines-wells-fargo-3-25m-otc-options-trading-reporting\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/www.investorlawyers.com\/blog\/finra-fines-wells-fargo-3-25m-otc-options-trading-reporting\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.investorlawyers.com\/blog\/"},{"@type":"ListItem","position":2,"name":"FINRA Fines Wells Fargo $3.25M Over OTC Options Trading Reporting"}]},{"@type":"WebSite","@id":"https:\/\/www.investorlawyers.com\/blog\/#website","url":"https:\/\/www.investorlawyers.com\/blog\/","name":"Investor Lawyers Blog","description":"Published By Investment Fraud Attorneys \u2014 Shepherd Smith Edwards & Kantas, LLP","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.investorlawyers.com\/blog\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431","name":"Shepherd Smith Edwards & Kantas, LLP","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/c7f8f04990816cd4044977eb59908da8c8d1ae487cc919cebd7027b74a0740a3?s=96&d=mm&r=g","caption":"Shepherd Smith Edwards & Kantas, LLP"},"sameAs":["https:\/\/www.investorlawyers.com\/"]}]}},"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pedX9K-1ey","_links":{"self":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4746","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/comments?post=4746"}],"version-history":[{"count":2,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4746\/revisions"}],"predecessor-version":[{"id":24463,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/posts\/4746\/revisions\/24463"}],"wp:attachment":[{"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/media?parent=4746"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/categories?post=4746"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investorlawyers.com\/blog\/wp-json\/wp\/v2\/tags?post=4746"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}