San Diego Union Tribune
Paula Whitsell was at her desk in Wells Fargo’s branch in Chula Vista when the FBI burst in, put her in handcuffs and led her past a line of stunned customers and bank clerks. Five years later – long after federal prosecutors dropped their charges – arbitrators with the National Association of Securities Dealers last […]
Wall Street Journal
An arbitration panel of the National Association of Securities Dealers ordered Wells Fargo Securities Inc., a subsidiary of Wells Fargo & Co., San Francisco, to pay a former financial consultant $1.15 million and admit that an error by the company caused her to be arrested and indicted. In 1997, federal authorities charged the consultant, Paula […]
PR Newswire
Paula Whitsell, a former financial consultant at Wells Fargo Securities, Inc. (“Wells Fargo”) in San Diego, California, a subsidiary of Wells Fargo & Company (NYSE: WFC – news) was awarded $1.15 million by an NASD Dispute Resolution arbitration panel. The award against Wells Fargo came after more than two years of litigation stemming from a […]
The Recorder
The securities industry thumbed its nose Wednesday at California’s Judicial Council, announcing it would simply circumvent the state’s new ethics standards for arbitrators now that it has lost a battle over them in federal court. The New York Stock Exchange said it would allow parties with disputes in California to move ahead with arbitrations if […]
Registered Representative
The last couple of years have been hell on anyone who owns stock. And someone must pay. Rightly or wrongly, that person typically is you. Case in point: the rate of NASD arbitration cases is expected to increase nearly 35 percent in 2002 compared with 2000. That’s a lot of brokers on the hot seat. […]