Wells Fargo Employee Terminated for Outside Business Activities
Darnell Kenneth Mote submitted a Letter of Acceptance Waiver and Consent (AWC) to the Financial Industry Regulatory Authority (FINRA) in which he was suspended from association with any FINRA member in all capacities for 20 days and fined $5,000. In June 2012, Mr. Mote joined the securities industry and became associated with Wells Fargo Advisors. According to FINRA, the firm filed a Uniform Termination Notice for Securities Registration reporting Mote’s termination on November 4, 2015. Mr. Mote allegedly engaged in outside business activity without providing notice to his firm. The firm’s policies require all associated persons to seek approval in writing before engaging in outside activity, which is what Mr. Mote failed to do.
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