Former Wells Fargo Employees Charged With Insider Trading For Trading On Research Reports

Perhaps marking a new focus on what has been described as the "netherworld" of Wall Street, the Securities and Exchange Commission has charged two former Wells Fargo employees with violating federal securities laws by using knowledge of nonpublic impending upgrades or downgrades in certain securities to generate more than $100,000 in illicit gains.  Gregory T. Bolan, Jr., 37, and Joseph C. Ruggieri, 35, are charged with violations of Section 17(a) of the Securities Act of 1933, Section 10(b) of...