[JURIST] The US Securities and Exchange Commission (SEC) [official website] announced Tuesday that Wells Fargo [corporate website] will pay a $6.5 million fine [order, PDF] for improperly selling high-risk mortgage securities to investors during the housing market crash in 2007. The SEC claimed that Wells Fargo did not adequately inform investors of the risk or complexity of the securities it sold. In its order, the SEC declared that Wells Fargo violated Section 17 of the 1933 Securities Act [LII backgrounder]...

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