The SEC brought an interesting case this week against Wells Fargo Advisors LLC for failing to maintain adequate controls to prevent an employee from engaging in insider trading based on a customer’s nonpublic information. The SEC said the case was the first it has brought against a broker-dealer for failing to protect nonpublic information conveyed by its customers.
via SEC Brings First Case Against B-D for Not Protecting Nonpublic Customer Info | Compliance Week
