FINRA Requests Information from Former Bank Employees about the Propriety of Their Terminations

FINRA is asking former Wells Fargo bank employees whose securities registrations were terminated to contact FINRA if they have concerns about a notice that was filed by Wells Fargo regarding the termination of their employment. Recent news reports brought attention to several former Wells Fargo Bank employees who believe that they were terminated for reporting, or refusing to engage in, the opening of unauthorized accounts.

FINRA expressed concerns that a subset of terminated individuals who also were registered with FINRA to conduct securities activities may have not received a copy of their Form U5 termination notice within 30 days of being terminated, as required by FINRA rules, or that their Form U5 contained inaccurate or incomplete comments related to the reasons for their termination.