Former Wells Fargo Compliance Officer Charged With Unauthorized Document Alteration

Posted on October 27th, 2014 at 11:39 AM

From the Desk of Jim Eccleston at Eccleston Law Offices:

The SEC announced an enforcement action against a former Wells Fargo Advisors compliance officer for altering documents without authorization during an investigation by the SEC.

According to the SEC’s order, Judy K. Wolf was responsible for identifying potentially suspicious trading by Wells Fargo personnel or the firm’s customers and then analyzing whether the trades was based on material nonpublic information. 

According to the SEC, Wolf created a document in September 2010 to summarize her review of a particular Wells Fargo broker’s trading, and closed her review with no findings. 

The SEC alleges that Wolf altered that document in December 2012 after the SEC charged the broker with insider trading.  By altering the document, Wolf made it appear that she had performed a more thorough review in 2010 than she actually had. 

Prior to the enforcement action, Wells Fargo placed Wolf on administrative leave and ultimately terminated her employment.

The attorneys of Eccleston Law Offices represent investors and advisers nationwide in securities and employment matters. Our attorneys draw on a combined experience of nearly 50 years in delivering the highest quality legal services.

Related Attorneys: James J. Eccleston

Tags: SEC IAC, SEC, Securities and Exchange Commission, IAC, Investor Advisory Committee, Wells Fargo, Judy K. Wolf

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