Wells Fargo Securities
Wells Fargo Securities is the trade name for the capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Securities, LLC (“WFS”), Wells Fargo Prime Services, LLC (“WFPS”), Wells Fargo Securities (Japan) Co., Ltd. (“WFSJ”), Wells Fargo Securities Asia Limited (“WFSAL”) and Wells Fargo Securities International Limited (“WFSIL”). WFS is a U.S. broker-dealer registered with the U.S. Securities and Exchange Commission and a member of NYSE, FINRA, NFA and SIPC. WFPS is a U.S broker-dealer registered with the U.S Securities and Exchange Commission and a member of FINRA, NFA and SIPC.) WFSJ is a Japanese financial instruments business operator registered with the Kanto Local Finance Bureau to conduct broking, dealing, distribution, intermediation or private placement deal of Type 1 and Type 2 financial instruments and agency or intermediary service for entry into investment advisory and discretionary investment contracts. Wells Fargo Securities Asia Limited licensed by the HK SFC. WFSIL is a U.K. incorporated investment firm authorized and regulated by the U.K. Financial Conduct Authority.
Subsidiaries and Affiliates
Wells Fargo conducts business outside the U.S. through various companies, including subsidiaries and affiliates. All products and services may not be available in all countries. Each situation needs to be evaluated individually and is subject to local regulatory requirements.
Mr. Graeme Seed ceased to be the s.72B manager for risk management function under the Hong Kong Banking Ordinance on June 30, 2018. While we are looking for the replacement of Graeme, Mr. Jim Johnston serves as the interim s.72B manager for risk management function under the Hong Kong Banking Ordinance. Jim is the interim APAC Regional Risk Executive appointed to oversee the overall risk management functions of Wells Fargo’s franchises in the APAC region.
Hong Kong Disclosures
Taipei Branch Disclosures
Other disclosures for our Taipei branch.
Canadian Deposit Insurance Corporation Notice
Deposits with Wells Fargo Bank, National Association, Canadian Branch are not insured by the Canada Deposit Insurance Corporation.
In compliance with the Support Orders and Support Provisions (Banks and Authorized Foreign Banks) Regulations, Wells Fargo Bank, N.A., Canadian Branch has designated the following offices for the service of enforcement notices in respect of the below noted provinces.
Province of Alberta
308 4th Ave SW, Suite 2711
Calgary, AB T2P 0H7
Province of British Columbia
200 Burrard Street, Suite 330
Vancouver, BC V6C 3L6
Province of Ontario
22 Adelaide Street W, Suite 2200
Toronto, ON M5H 4E3
Province of Quebec
1250 Rene-Levesque Blvd West, Suite 2100
Montreal, Quebec H3B 4W8
The Bank Act requires banks to inform customers in plain language that coercive tied selling is illegal. To comply with the law, Wells Fargo Bank, N.A., and its wholly-owned subsidiaries and Wells Fargo Bank, N.A., Canadian Branch has created this web page explaining what coercive tied selling is.
What is coercive tied selling?
Section 576.1 of the Bank Act prohibits banks from practicing coercive tied selling. It is against the law for a bank to “impose undue pressure on, or coerce a person to obtain a product or service from a particular person, including the bank and any of its affiliates, as a condition for obtaining another product or service from the bank.” Customers cannot be unduly pressured to buy a product or service that they do not want from a bank or one of its affiliates, to obtain another bank product or service.
The following is an example that helps to explain coercive tied selling and what is not allowed.
Your bank’s mortgage specialist tells you that you qualify for a home mortgage. However, you are also told that the bank will approve your mortgage only if you transfer your investments to the bank or its affiliates. You want the mortgage, but you do not want to move your investments.
You are advised that you qualify for a Registered Retirement Savings Plan (RRSP) loan. However, you are also told that the bank will approve the loan only if you use the money to buy the bank’s mutual funds. You want the loan, but you want to invest the money elsewhere.
The above practice is against the law. A banking representative is not allowed to excessively pressure you to buy another unwanted product or service as a condition of obtaining the product you want.
What is not coercive tied selling?
Most businesses, including Wells Fargo Bank N.A., Canadian Branch look for tangible ways to show their interest in your business and appreciation for your loyalty. Sales practices, such as preferential pricing and bundling of products and services, offer potential and existing customers better prices or more favourable terms. These practices should not be confused with coercive tied selling, as defined by the Bank Act. Many of these practices will be familiar to you in your dealings with other businesses.
Preferential pricing means offering customers a better price or rate on all or part of their business. For example, a printer offers a lower price for each business card if you buy a thousand cards instead of a hundred. A shoe store offers a second pair of shoes at half price.
Similarly, a bank may be able to offer you preferential pricing — a higher interest rate on investments or a lower interest rate on loans — if you use more of its products or services. The following two examples will help to explain preferential pricing in banks.
After approving your application for a home mortgage from the bank, your bank’s mortgage specialist tells you that this mortgage would be available at a lower interest rate if you transferred your investments to the bank or its affiliates.
After approving your application for an RRSP loan, your bank’s credit officer offers you a lower interest rate if you use the loan to buy the bank’s mutual funds.
The above practices are acceptable. The approval of your mortgage and RRSP loan is not conditional on your taking another bank product or service. Rather you are offered preferential pricing to encourage you to give the bank more business.
What is bundling of products and services?
Products or services are often combined to give consumers better prices, incentives or more favourable terms. By linking or bundling their products or services, businesses are often able to offer them to you at a lower combined price than if you bought each product on its own. For example, a fast-food chain advertises a meal combination that includes a hamburger, fries and a drink. The overall price is lower than if you bought the three items separately.
Similarly, banks may offer you bundled financial services or products so that you can take advantage of package prices that are less than the sum of the individual items. The following example will help to explain the bundling of bank products and services.
You plan to open a bank account that charges you for individual transactions. The banking representative offers you a package of services that includes a comparable bank account, a credit card with no annual fee and a discount on purchasing traveller’s cheques. The total price for the package is less than if you purchased each part of the package separately.
Bundling products in this way is permitted because you have the choice of buying the items individually or in a package.
Who to contact with questions or complaints
Customers with questions, concerns or complaints about Wells Fargo Bank, N.A., Canadian Branch (“Wells Fargo Canada Branch”) should take the following steps:
- First, customers should contact their Wells Fargo Canada Branch Relationship Manager with respect to questions or concerns regarding any Wells Fargo Canada Branch product, service or account.
- Customers with concerns that remain unresolved following consultation with their Relationship Manager may contact the Wells Fargo Canada Branch Complaints Liaison and provide all pertinent information:Complaints Liaison
Wells Fargo Bank, N.A., Canadian Branch
22 Adelaide Street W, Suite 2200
Toronto, ON M5H 4E3Toll-free telephone: 1-866-876-8688Email: email@example.comFrançais
- If, within 90 days of the Wells Fargo Canada Branch Complaints Liaison review, you are not satisfied with the resolution of your complaint, you may contact the Ombudsman for Banking Services and Investments.
Ombudsman for Banking Services and Investments
401 Bay Street
Suite 1505, P.O. Box 5
Toronto, Ontario M5H 2Y4
Toll-free telephone: 1-888-451-4519
Toll-free fax: 1-888-422-2865
Toronto area telephone: 416-287-2877
Toronto area fax: 416-225-4722
Web site: www.obsi.caCustomers with questions, concerns or complaints about the manner in which Wells Fargo Canada provides services to persons with disabilities can provide feedback to the Wells Fargo Canada Complaints Liaison as follows. Accessible formats and communication supports will be provided, upon request. In addition, a copy of Wells Fargo Canada’s Accessibility Standards for Individuals with Disabilities Policy is available, upon request.Complaints Liaison
Wells Fargo Canada
22 Adelaide Street W, Suite 2200
Toronto, ON M5H 4E3
Toll-free telephone: 1-866-876-8688
Email: firstname.lastname@example.orgFor reasons of confidentiality and security, do not send confidential information via email.In the complaints handling process for Canadian financial institutions, including Wells Fargo Canada Branch, the Financial Consumer Agency of Canada is responsible for ensuring that all financial institutions comply with federal consumer legislation and will investigate any complaint or concern that relates to a possible breach of that legislation.Financial Consumer Agency of Canada
Enterprise Building, 6th Floor
427 Laurier Avenue
West Ottawa, ON K1R 1B9
© 2018 Wells Fargo Bank, N.A., Canadian Branch. All rights reserved.
As required by the Complaints (Banks, Authorized Foreign Banks and External Complaints Bodies) Regulations SOR/2013-48, Wells Fargo Bank, N.A., Canadian Branch confirms that they did not receive any complaints in 2017.
Multi-Year Accessibility Plan for Wells Fargo Canada
This multi-year accessibility plan confirms Wells Fargo Canada’s commitments and actions toward achieving accessibility for persons with disabilities, including customers, applicants and employees.
Statement of Commitment to Accessibility
Wells Fargo Canada is committed to providing services and opportunities to persons with disabilities in a manner that respects their dignity and independence.
Wells Fargo Canada is committed to preventing and removing barriers to integration and participation of persons with disabilities and will strive to do so as respectfully and efficiently as possible.
Wells Fargo Canada is committed to meeting its legal requirements concerning accessibility, especially those set out in the Accessibility for Ontarians with Disabilities Act (AODA).
Wells Fargo Canada has implemented policies and guidelines to enable it to meet its commitments to persons with disabilities.
The Accessibility Standards for Individuals with Disabilities Policy applies to Wells Fargo Canada’s applicable Ontario businesses and is directed to ensuring that customers with disabilities are treated with respect and dignity in their business interactions with Wells Fargo Canada.
The Accommodation of Disability Guidelines apply to applicants and Wells Fargo Canada employees and are focused on eliminating barriers to recruitment and employment for persons with disabilities.
Wells Fargo Canada will regularly review these policies and guidelines to ensure they continue to promote accessibility in its business and workplace and Wells Fargo Canada will assess whether additional policies and guidelines are required in order to bolster its commitment to accessibility for persons with disabilities.
Information and Communications
Wells Fargo Canada is committed to making information and communications accessible to persons with disabilities. Accessible communication formats will be made available upon request and Wells Fargo Canada is committed to ensuring that it consults with persons with disabilities to provide information and methods of communication that meet their particular needs.
Wells Fargo Canada encourages feedback from persons with disabilities if they have questions or concerns about the manner in which Wells Fargo Canada is providing services or opportunities for employment. Feedback can be provided by mail, telephone or email to Wells Fargo Canada’s Complaints Liaison (see contact details below). Wells Fargo Canada will assess whether additional methods of feedback are appropriate in the circumstances.
Wells Fargo Canada will make its internet websites and web content conform to the World Wide Web Consortium Web Content Accessibility Guidelines (WCAG) 2.0, initially at Level A and increasing to Level AA by January 2021.
Wells Fargo Canada is committed to fair and accessible employment practices, taking into account the particular needs of applicants and its employees.
Wells Fargo Canada will accommodate persons with disabilities during the employment relationship, including at the recruitment stage and during all phases of employment thereafter. Wells Fargo Canada’s Accommodation of Disability Guidelines contain more detailed information about the steps that Wells Fargo Canada will take to ensure accessibility in the employment relationship. A copy of the Guidelines is available (and can be provided in an alternate format), upon request.
Wells Fargo Canada will provide emergency response information to employees with disabilities to ensure they are treated respectfully and safely in the event of a workplace emergency.
Wells Fargo Canada will regularly review its processes, procedures, communication standards and employment-related content to ensure that it continues to provide an accessible employment experience to applicants and employees with disabilities.
Wells Fargo Canada is committed to providing accessible customer service to people with disabilities, to enable dignified and professional business relations. Wells Fargo Canada’s Accessibility Standards for Individuals with Disabilities Policy details how Wells Fargo Canada is prepared to ensure that the needs of customers with disabilities are met during their business interactions with Wells Fargo Canada. A copy of the Policy is available (and can be provided in an alternate format), upon request.
Due to the nature of Wells Fargo Canada’s business, its facilities are not open to the public; however, Wells Fargo Canada is committed to ensuring that customers with disabilities have a dignified, professional, and safe experience while conducting business at Wells Fargo Canada facilities. If accommodation is required, whether to conduct business or to address an emergency response need, it will be provided on request.
Wells Fargo Canada is committed to providing appropriate training to its Ontario employees to ensure they are familiar with their obligations and rights regarding AODA and human rights. Newcomers to Wells Fargo Canada will receive training shortly after commencing employment.
Wells Fargo Canada will regularly review its training methods and materials to confirm that it continues to provide the appropriate level of training to its employees in connection with the subject of accessibility for persons with disabilities.
This multi-year accessibility plan was created in 2017 and will be reviewed at least every 5 years, unless otherwise required by law.
For additional information on the multi-year accessibility plan, please contact Wells Fargo Canada’s Complaints Liaison as follows:
Wells Fargo Canada
22 Adelaide Street W, Suite 2200
Toronto, ON M5H 4E3
Toll-free telephone: 1-866-876-8688
This multi-year accessibility plan is available on Wells Fargo Canada’s website at www.wellsfargo.ca and can be provided in an alternate format, upon request.
For the purpose of this multi-year accessibility plan, Wells Fargo Canada refers to those entities prescribed by the Accessibility for Ontarians with Disabilities Act or its applicable regulations.
Voluntary Commitments and Codes of Conduct
Voluntary codes of conduct are non-legislated commitments, voluntarily made by companies, associations and other organizations to influence or control behaviour, for the benefit of both themselves and their communities. Voluntary codes and commitments can address the needs of consumers, workers, and citizens while helping companies remain competitive.
The banking industry has developed and is committed to voluntary codes designed to protect consumers. The Model Code of Conduct for Bank Relations with Small- and Medium-Sized Businesses is applicable to Wells Fargo Bank, N.A., Canadian Branch.
The information posted on this web site is for information purposes only. This information does not constitute (i) an offer, invitation or recommendation to purchase or sell, nor a solicitation of an offer to buy, any product or service to any person in any jurisdiction or to dispose or acquire assets, (ii) an opinion, invitation or recommendation to enter into a transaction, including, without limitation, any public or private offering of product or service, nor (iii) any form of legal, financial, investment or tax advice, opinion or recommendation. Recipients are entirely responsible for making their own decision to purchase or sell product or service or enter into an investment transaction. The information posted here is not intended to form the basis of any future or present contract or arrangement or a fiduciary relationship with, or fiduciary duty to, the recipient. This information is subject to change without notice and does not purport to be comprehensive or contain all the information necessary to evaluate the subject matter discussed here. No representation, warranty or undertaking, express or implied, is or will be made or given and no responsibility or liability is or will be accepted in relation to the accuracy or completeness of this information made available here. Any responsibility or liability for any such information is expressly disclaimed.
Funds Availability Policy
Model Code of Conduct for Bank Relations with Small- and Medium-Sized Businesses (1994) (PDF)
Model code of conduct for bank dealings with small- and medium-sized businesses. The key elements of the model code are incorporated into individual bank codes.
Europe, Middle East, and Africa
For a Swap Counterparty
Unless otherwise stated, this message is provided for informational purposes only and should not be construed as creating legal relations or as a solicitation or offer to buy or sell any securities or other financial instruments. Any recipient that is a “Special Entity” within the meaning of 17 C.F.R. §23.401(c) is hereby notified that this communication (including any attachments) do not, are not intended to and should not be interpreted as an expression of an opinion within the meaning of 17 C.F.R. §23.440 by any person on behalf of Wells Fargo & Company and its affiliates as to whether such Special Entity should enter into any swap or trading strategy involving a swap.
Wells Fargo Securities
Wells Fargo Securities is the trade name for capital markets and investment banking services of Wells Fargo & Company and its subsidiaries, including Wells Fargo Securities International Limited and Wells Fargo Bank N.A., London Branch, both are authorised and regulated by the Financial Conduct Authority.
Wells Fargo Capital Finance
Wells Fargo Capital Finance is the trade name for certain asset-based lending and senior-secured lending services of Wells Fargo Capital Finance (UK) Limited and Wells Fargo Bank, National Association (WFBNA).
Wells Fargo Bank, National Association
Wells Fargo Bank, National Association (“WFBNA”) is a national banking association organized under the laws of the United States, with its head office at 420 Montgomery Street, San Francisco, California 94104 USA. WFBNA’s registered office is at 101 North Phillips Avenue, Sioux Falls, South Dakota, 57104, USA. WFBNA is registered with the U.S. Comptroller of the Currency under charter number 1. WFBNA is registered with the United Kingdom’s Companies House under number FC026633 and its principal place of business in the United Kingdom is at One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD, United Kingdom. Authorised and regulated by the Office of the Comptroller of the Currency, and authorised by the Prudential Regulation Authority in the UK. Subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential Regulation Authority in the UK. Details about the extent of our regulation by the Prudential Regulation Authority are available from us on request. “Wells Fargo Capital Finance” is registered with the Financial Conduct Authority as a trading name of WFBNA.
Wells Fargo Bank, N.A. Representative Office
If this message has been received from a Wells Fargo Bank, N.A. Representative Office, note this communication shall not be construed as a binding offer or solicitation from the representative office for any financial, banking or advisory products or services or any other similar products or services: the sender of this communication is only authorised to forward communications on behalf of and for the account of Wells Fargo Bank, N.A. (WFBNA) and is not authorised or licensed to provide any financial, banking or advisory products or services or any other similar products or services to customers and does not enter into any agreement with counterparties for such purposes. Only personnel employed or authorised by WFBNA located in the United States or in an overseas branch of WFBNA can enter into an agreements resulting from this communication for such purposes.
Wells Fargo Bank International Unlimited Company
Wells Fargo Bank International Unlimited Company (“WFBI”) is a public unlimited company incorporated under the laws of the Republic of Ireland, with its head office at 5th Floor, 2 Harbourmaster Place, I.F.S.C., Dublin 1, Ireland. WFBI’s registered office is at Arthur Cox Building, Earlsfort Terrace, Dublin 2, Ireland. WFBI is registered with the Irish Companies Registration Office under registration number 429222. WFBI is registered with the United Kingdom’s Companies House under company number FC028519 and its principal place of business in the United Kingdom is at One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD, United Kingdom. WFBI is also registered with the German Commercial Register (Handelsregister) under registration number HRB 86699 and its principal place of business in Germany is at An der Hauptwache 7, 60313 Frankfurt. WFBI is licensed and regulated by the Central Bank of Ireland and is registered as an EEA Authorised Firm with the United Kingdom’s Financial Conduct Authority (the “FCA”) and subject to limited regulation by the FCA and with the German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – the “BaFin”).
WFBI’s Board of Directors comprises the following members: Frank Pizzo (US), Walter Brazil, Holly Kaczmarczyk (US), Mark Ryan, Louise Li (UK), Dominic O’Hagan (UK), David Weber (US), Richard Yorke (UK), John McNulty (US), Susan Webb.
Wells Fargo Securities International Limited
Wells Fargo Securities International Limited (“WFSIL”) is a private limited company incorporated under the laws of England and Wales with its head office and registered office at One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD, United Kingdom. WFSIL is registered with the United Kingdom’s Companies House under company number 3426903. WFSIL is authorised and regulated by the Financial Conduct Authority. “Wells Fargo Securities”, “Wells Capital Management”, “Eastdil Secured”, “Metropolitan West Capital Management”, “Wells Fargo Asset Management”, “Wells Fargo Wealth Management” are registered with the Financial Conduct Authority as trading names of WFSIL.
Wells Fargo Trust Corporation Limited
Wells Fargo Trust Corporation Limited (“WFTCL”) is a private limited company incorporated under the laws of England and Wales with its head office at One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD, United Kingdom. WFTCL’s registered office is at 411 Tower Bridge Business Centre, 46-48 East Smithfield, London, E1W 1AW, United Kingdom. WFTCL is registered with the United Kingdom’s Companies House under company number 4409492.
Wells Fargo Capital Finance (UK) Limited
Wells Fargo Capital Finance (UK) Limited is a private limited company incorporated under the laws of England and Wales with its head office and registered office at 4th Floor, 90 Long Acre, London, WC2E 9RA, United Kingdom. Wells Fargo Capital Finance (UK) Limited is registered with the UK’s Companies House under company number 02656007.
Wells Fargo Asset Management (International), LLC
Wells Fargo Asset Management (International), LLC (“WFAM (Intl)”) is a limited liability company incorporated under the laws of Delaware with its registered office at Corporation Service Company 2711 Centerville Road, Suite 400, Wilmington, New Castle, Delaware 19808, United States. WFAM (Intl) is registered with the United Kingdom’s Companies House under company number FC016583 and its principal place of business and head office is at One Plantation Place, 30 Fenchurch Street, London, EC3M 3BD, United Kingdom. WFAM (Intl) is authorised and regulated by the Financial Conduct Authority in the UK and is registered with the Securities and Exchange Commission in the USA.
ECM Asset Management Limited
ECM Asset Management Limited (“ECM”) is a private limited company incorporated under the laws of England and Wales with its head office and registered office at 34 Grosvenor Street, London, W1K 4QU. ECM is authorised and regulated by the Financial Conduct Authority. ECM is registered with the United Kingdom’s Companies House under company number 3710963.
Wells Fargo Commercial Distribution Finance is the trade name for certain inventory financing (floor planning) services of Wells Fargo Bank International Unlimited Company (WFBI). Wells Fargo International Finance (France) S.A.S. (WFIF France) is a société par actions simplifiée incorporated under the laws of France with SIREN number 818 909 293 RCS Nanterre, with its head office and registered office at 42 rue Washington, 75008 Paris and with a share capital of 1000.00 euros. WFIF France is the mandataire exclusif in banking transactions and payment services of WFBI and is registered with the ORIAS under registration number 16004815. WFBI is a public unlimited company incorporated under the laws of the Republic of Ireland, registered with the Irish Companies Registration Office under registered number 429222, with its registered address at Arthur Cox Building, Earlsfort Terrace, Dublin 2, Ireland. WFBI is authorised by the Central Bank of Ireland.
Wells Fargo Commercial Distribution Finance est le nom commercial de certaines activités de financement de stocks de Wells Fargo Bank International Unlimited Company (WFBI). Wells Fargo International Finance (France) S.A.S. (WFIF France) est une société par actions simplifiée de droit français dont le numéro SIREN est 818 909 293 RCS Paris, dont le siège social est sis 42 rue Washington, 75008 Paris et dont le capital social est de 1000,00 euros. WFIF France agit en qualité de mandataire exclusif en opérations de banque et services de paiement de WFBI et est enregistré à l’ORIAS sous le numéro d’immatriculation 16004815. WFBI est une société anonyme à responsabilité illimitée (public unlimited company) régie par le droit de la République d’Irlande, enregistrée par l’Office d’Enregistrement des Sociétés (Companies Registration Office) sous le numéro 429222, et dont le siège social est sis Arthur Cox Building, Earlsfort Terrace, Dublin 2, Irlande. WFBI est agréée par la Banque centrale d’Irlande.