Legal Statement

Legal Statement

Important Disclaimer

Investments made through Wells Fargo Securities: (1) are not insured by the FDIC; (2) are not deposits or other obligations of, or guaranteed by, WFS, Wells Fargo & Company, or any of its affiliates, including, but not limited to, Eastdil Secured; (3) are not guaranteed by any Federal governmental agency (excluding U.S. Government and federal agency securities); and (4) are subject to investment risks, including possible loss of principal amount invested.

Notice to Customers

Important Information About Procedures for Opening a New Account: To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.

What this means for you: When you open an account, we will ask for your name, address, date of birth and/or other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

Reliance on Another Financial Institution for Identity Verification: With regard to the sub accounts of our principal clients for which we process trades, WFS relies on the expectation that the principal account who has the relationship with their customer for whom they trade with us, has their own customer identification program. This obligates them to verify the identity of the customers they introduce to WFS. Based on the fact that our clients have a fiduciary responsibility to their customer:

  • This reliance is reasonable under the circumstances;
  • That the other financial institution is subject to a rule implementing the anti-money laundering compliance program requirements of 31 U.S.C. 5318(h), and is regulated by a Federal functional regulator.