Wells Fargo Advisors LLC, with investment advisory branches in Hartford and throughout Connecticut, has been fined $1 million for failing two years ago to deliver securities documents in a timely manner to about 934,000 of its U.S. mutual fund customers.
The Financial Industry Regulatory Authority (FINRA) levied the penalty against St. Louis-based Wells Fargo Advisors, a unit of banking giant Wells Fargo & Co.
Wells Fargo purchased the business that was previously A.G. Edwards & Co. in December 2008.
In settling the matter, FINRA said Wells Fargo neither admitted nor denied the charges.
