FINRA representatives have asked at least one of the attorneys involved in the dispute for information about how the breach occurred and how Wells Fargo failed to detect it.
The outperformance of bonds since the financial crisis, risk aversion and regulations unfriendly to equities have helped create a preference for fixed income.
Retirement benefits—including employer contributions to pensions, 401(k)s and retiree health-care benefits—fell from 9.1 percent of worker pay in 2001 to 6.8 percent in 2015.