Tags: wells | fargo | forex | foreign | exchange | trading

WSJ: US Investigating Forex Trading at Wells Fargo

Image: WSJ: US Investigating Forex Trading at Wells Fargo
Mohamed-Ahmed-Soliman/Dreamstime

Friday, 27 October 2017 01:06 PM

Federal prosecutors are investigating foreign-exchange trading at Wells Fargo & Co and have subpoenaed information from the firm, the Wall Street Journal reported, citing people familiar with the matter.

"Wells Fargo learned of an issue associated with a foreign exchange transaction for a single client. The matter was reviewed, the client was promptly notified regarding the issue and Wells Fargo leadership took steps to hold accountable the individuals who were involved," a company spokeswoman said.

The investigation, which is in early stages, is being conducted by the U.S. Attorney's Office for the Northern District of California, the Journal reported.

"Wells Fargo remains committed to its foreign exchange business, meeting its clients' financial needs in an ethical way, and ensuring ongoing review of this and all business operations" the spokeswoman added. 

© 2018 Thomson/Reuters. All rights reserved.

   
1Like our page
2Share
StreetTalk
Federal prosecutors are investigating foreign-exchange trading at Wells Fargo & Co and have subpoenaed information from the firm, the Wall Street Journal reported, citing people familiar with the matter.
wells, fargo, forex, foreign, exchange, trading
130
2017-06-27
Friday, 27 October 2017 01:06 PM
Newsmax Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved