NEW YORK (Reuters) - The Financial Industry Regulatory Authority said it fined several Wells Fargo & Co businesses, RBC Capital Markets, LPL Financial and others a combined $14.4 million on Wednesday for record-keeping problems that may have allowed company and customer documents to be altered.
The securities industry's self-regulator found that the firms failed to keep hundreds of millions of electronic documents in a "write once, read many" format, which would have made it impossible to alter or destroy records after they were written.
The firms agreed to the fines but neither admitted nor denied the charges.
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