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- Sarah ten Siethoff is New Associate Director of SEC Investment Management Rulemaking Office
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- Credit Suisse to Pay $47Mn to Resolve DOJ Asia Probe
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- Cryptocurrency Exchange Bitfinex Briefly Halts Trading After Cyber Attack
- SEC Names Valerie Szczepanik Senior Advisor for Digital Assets and Innovation
- SEC Modernizes Delivery of Fund Reports, Seeks Public Feedback on Improving Fund Disclosure
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- Deutsche Bank faces another challenge with Fed stress test
- Former JPMorgan Broker Files racial discrimination suit against company
- $3.3Mn Winning Bid for Lunch with Warren Buffett
- Julie Erhardt is SEC's New Acting Chief Risk Officer
- Chyhe Becker is SEC's New Acting Chief Economist, Acting Director of Economic and Risk Analysis Division
- Getting a Handle on Virtual Currencies - FINRA
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FINRA Opens Hotline for Ex-Wells Fargo Bankers Fired During Scandal
FINRA launched a hotline on Friday to hear from ex-Wells Fargo employees who were fired for allegedly opening unauthorized accounts after news reports that the bank may have retaliated by terminating whistleblowers in the scandal.
About 200 of the 5,300 Wells workers fired for their involvement in the sales scandal were licensed to sell securities and, therefore, fall under the jurisdiction of FINRA.
A handful of Wells Fargo employees have sued the bank or filed complaints with regulators saying that they were fired only after they reported on the bogus accounts.
In a letter last month to Wells Fargo CEO Tim Sloan, Democratic Senators Elizabeth Warren, Ron Wyden and Robert Menendez said they had received evidence from FINRA showing that the bank may have filed defamatory statements to retaliate against the employees for questioning the sales tactics – i.e., through Forms U5.
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