The U.S. Securities and Exchange Commission (SEC) has taken action against several financial firms for various compliance failures. Wells Fargo and Bank of America's Merrill Lynch are accused of shortchanging customers by directing uninvested cash into sweep accounts that benefited the banks rather than their clients. Additionally, the SEC fined Celsius Holdings $3 million for issuing materially inaccurate financial statements related to misreported stock awards. In a related enforcement action, Edward Jones entered into a $17 million multistate settlement following an investigation into its supervision of customers regarding mutual fund shares. This settlement was joined by the Nevada Secretary of State's Office. Furthermore, LPL Financial LLC was fined $18 million by the SEC for deficiencies in its anti-money laundering program, which included failing to close high-risk accounts such as those related to cannabis and international transactions.