The US Financial Industry Regulatory Authority (Finra) has ordered Wells Fargo Clearing Services, and Wells Fargo Advisors Financial Network, to pay more than US$3.4m in restitution to affected customers for unsuitable recommendations of volatility-linked exchange-traded products (ETPs) and related supervisory failures. The US regulator found that between July 1, 2010, and May 1, 2012, a number of Wells Fargo registered representatives recommended volatility-linked ETPs without fully understand

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