ncial Industry Regulatory Authority (FINRA), and in some cases, the CFTC and the Municipal Securities Rulemaking Board, and state securities regulators. In addition, the Dodd-Frank Wall Street Reform and Consumer Protection Act also prohibits the company’s ability to merge, acquire all or substantially all of the assets of, or acquire control of another company if its total resulting consolidated liabilities would exceed 10% of the aggregate consolidated liabilities of all financial companies. The company’s subsidiary banks receive a rating under the Community Reinvestment Act of 1977, as amended. The company’s bank subsidiaries, including Wells Fargo Bank, N.A., are members of the Deposit Insurance Fund (DIF) maintained by the FDIC. Through the DIF, the FDIC insures the deposits of its banks up to prescribed limits for each depositor. The company is subject to the Sarbanes-Oxley Act of 2002. The Uniting and Strengthening America by Providing Appropriate Tools Required to Intercept and Obstruct Terrorism Act of 2001 required the company to implement new or revised policies and procedures relating to anti‑money laundering, compliance, suspicious activities, and currency transaction reporting and due diligence on customers. Significant Events In May 2014, Wells Fargo & Company announced the opening of an office in Aberdeen in May 16, 2014 week in an effort to tap into the oil industry business in Scotland, which is part of its broader plan to expand in the United Kingdom. Wells Fargo's Wealth, Brokerage and Retirement division announced the launch of Wells Fargo Investment Institute (WFII). WFII brings together the investment research, strategy, manager research and publications teams from Wells Fargo Wealth, Brokerage, and Retirement's four lines of business to create a single group with a goal of providing world-class advice to the company's financial and wealth advisors and clients History Wells Fargo & Company was founded in 1852.
wells fargo & co (WFC:New York)
420 Montgomery Street
San Francisco, CA 94104
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