Alleged lack of records costs A.G. Edwards $755K in VA dispute

Alleged lack of records costs A.G. Edwards $755K in VA dispute

Wells Fargo unit agrees to settle charges arising from sales of variable annuities to seniors A.G. Edwards & Sons Inc. will pay Missouri securities cops $755,000 to settle charges that the firm sold variable annuities to elderly clients without maintaining proper documentation. The firm, now part of Wells Fargo & Co., had been under investigation by the Missouri Securities Division after the regulator received a complaint from an 81-year-old investor in Blue Eye, Mo., on the liquidation of a variable annuity. Regulators then reviewed all variable annuity sales and exchanges made at A.G. Edwards between July 1, 2006 and June 30, 2007. Read entire article Docupace is the...

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