Wells Fargo has agreed to pay $ 400,000 to settle allegations that its broker - dealer firm failed to submit accurate reports on trader positions . The Commodity Futures Trading Commission found multiple errors in the banks large trader reports , including both missing data and data presented in a format inconsistent with regulatory requirements . Wells Fargo , which has not investigated or denied any wrongdoing , has been under intense scrutiny after its customers allegedly opened two million unwanted and fictitious customer accounts to meet sales expectations .
Wells Fargo has agreed to pay $400,000 to settle allegations that its swap-dealing unit failed to submit accurate reports on trader positions. The Commodity Futures Trading Commission found multiple errors in the banks large trader reports, including both missing data and data presented in a format inconsistent with regulatory requirements. Wells Fargo, which has not admitted or denied any wrongdoing, has been under intense scrutiny after its employees allegedly opened two million unwanted and fictitious customer accounts to meet sales goals.