In addition to indicting the client $10,601 in redemption fees and initial selling fees, the recommended change allowed the client to earn less annual income than if he had not sold the variable annuity. Section Rule 606 requires dealer dealers who place orders on certain equity and option securities to provide quarterly reports that provide a general overview of their routing practices. Jessica Hopper, Executive Vice President and Head of FINRA`s Enforcement Division, said: “Companies need to have an adequate monitoring system in place to detect potentially inappropriate switches. Wells Fargo did not meet that standard. We are pleased that customers will receive a refund for redemption fees and selling expenses incurred as a result of these recommendations. Quarterly reports that publish information on the routing of WFCS orders can be obtained from: Access Wells Fargo Clearing Services, LLC Quarterly Report. In settling this case, Wells Fargo Clearing Services, LLC, and Wells Fargo Advisors Financial Network, LLC neither admitted nor denied the allegations, but agreed to file FINRA`s findings. . . .