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Stock Market & Financial Investment News

News Breaks
November 28, 2012
17:44 EDTWFCWells Fargo: SEC does not intend to recommend any enforcement actions
Wells Fargo & Company previously disclosed the receipt of a Wells notice from the staff of the SEC relating to the companyís disclosures in mortgage-backed securities offering documents. On November 20, the company was notified by the Commissionís staff that this investigation has been completed and the staff does not intend to recommend any enforcement action by the Commission.
News For WFC From The Last 14 Days
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April 7, 2014
19:57 EDTWFCFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
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