Wells Draws SEC Disclosure Probe

The Securities and Exchange Commission is probing whether Wells Fargo & Co. violated rules around investor disclosures and other matters relating to its recent sales tactics scandal, people familiar with the matter said.

Merrill Lynch to Pay $415M for Misusing Customer Cash: SEC

Bank of America Corp's Merrill Lynch unit will pay $415 million and admit to wrongdoing to settle charges that it misused customer cash to generate profits and failed to safeguard their securities from creditors, the U.S. Securities and Exchange Commission said on Thursday.