Wells Fargo Files SC 13D/A for PIMCO California Municipal Income Fund

TL;DR

Wells Fargo just filed a 13D/A on PIMCO CA Muni Fund - big ownership change incoming.

AI Summary

On June 14, 2024, Wells Fargo & Company/MN filed an amendment (SC 13D/A) regarding PIMCO California Municipal Income Fund. This filing indicates a change in beneficial ownership, with Wells Fargo & Company/MN now holding a significant stake. The specific details of the transaction, including the exact number of shares and dollar amounts, are not fully detailed in this excerpt but relate to the Remarketable Variable Rate Munifund Term Preferred Shares.

Why It Matters

This filing signals a potential shift in control or significant investment in the PIMCO California Municipal Income Fund by Wells Fargo, which could impact the fund's management and investment strategy.

Risk Assessment

Risk Level: medium — Changes in beneficial ownership filings like this can indicate strategic moves by large entities, potentially leading to market volatility or changes in the target company's operations.

Key Players & Entities

• PIMCO CALIFORNIA MUNICIPAL INCOME FUND (company) — Subject Company
• WELLS FARGO & COMPANY/MN (company) — Filing Party
• Vera Gurova (person) — Senior Counsel at Wells Fargo

FAQ

Key Financial Figures

• $100,000 — d typically included fines of less than $100,000 each. STATE OF MISSOURI SETTLEMENT On
• $300,000 — m that his ex-wife misappropriated over $300,000 out of his IRA account during the perio
• $25,672.17 — onsented to a censure and agreed to pay $25,672.17 to the Missouri Secretary of States Inv
• $3,411,478.78 — restitution to certain clients totaling $3,411,478.78. FINRA SETTLEMENT On June 21, 2017, W
• $3.25 million — rm consented to a censure, payment of a $3.25 million fine, and an undertaking to review its
• $3,500,000 — rder, a censure, and a civil penalty of $3,500,000. Wells Fargo Advisors also agreed to vo
• $270,000 — m agreed to a total monetary payment of $270,000. NYSE SETTLEMENT On February 2, 2018,
• $10,000 — y 29, 2016. WFPS consented to a fine of $10,000. STATE OF NEVADA SECURITIES DIVISION
• $8,000 — client meetings. WFCS agreed to pay an $8,000 fine and $1,446.13 for the costs of the
• $1,446.13 — . WFCS agreed to pay an $8,000 fine and $1,446.13 for the costs of the examinations condu
• $5,108,441.27 — consented to a censure and a payment of $5,108,441.27 representing disgorgement, prejudgment
• $450,000 — ng payment of an administrative fine of $450,000. SEC SETTLEMENT On March 11, 2019, th
• $17,363,847.29 — cease-and-desist order and to disgorge $17,363,847.29 in 12b-1 fees through a restitution pro
• $75 million — the firms role as placement agent in a $75 million bond offering by the Rhode Island Econo
• $812,500 — nsented to injunctions and a penalty of $812,500. FINRA SETTLEMENT On January 29, 2020

Filing Documents

• d851831dsc13da.htm (SC 13D/A) — 91KB
• d851831dex991.htm (EX-99.1) — 6KB
• d851831dex992.htm (EX-99.2) — 6KB
• 0001193125-24-161224.txt ( ) — 105KB

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: June 14, 2024 WELLS FARGO & COMPANY By: /s/ Patricia Arce Name: Patricia Arce Title: Designated Signer WELLS FARGO MUNICIPAL CAPITAL STRATEGIES, LLC By: /s/ Matthew N. Antunes Name: Matthew N. Antunes Title: Senior Vice President LIST OF EXHIBITS Exhibit Description of Exhibit 99.1 Joint Filing Agreement 99.2 Limited Power of Attorney SCHEDULE I EXECUTIVE OFFICERS AND DIRECTORS OF REPORTING PERSONS The following sets forth the name and present principal occupation of each executive officer and director of Wells Fargo & Company. The business address of each of the executive officers and directors of Wells Fargo & Company is 420 Montgomery Street, San Francisco, CA 94104. Name Position with Wells Fargo & Company Principal Occupation Charles W. Scharf Chief Executive Officer and President; Director Chief Executive Officer of Wells Fargo & Company and Director Muneera S. Carr Executive Vice President, Chief Accounting Officer, and Controller Chief Accounting Officer and Controller of Wells Fargo & Company Kristy W. Fercho Senior Executive Vice President, Head of Diverse Segments, Representation & Inclusion Head of Diverse Segments, Representation & Inclusion of Wells Fargo & Company Derek A. Flowers Senior Executive Vice President and Chief Risk Officer Chief Risk Officer of Wells Fargo & Company Kyle G. Hranicky Senior Executive Vice President, CEO of Commercial Banking CEO of Commercial Banking of Wells Fargo & Company Tracy M. Kerrins Senior Executive Vice President, Head of Technology Head of Technology of Wells Fargo & Company Bei Ling Senior Executive Vice President, Head of Human Resources Head of Human Resources for Wells Fargo & Company Ellen R. Patterson Senior Executive Vice President an

View Full Filing

View this SC 13D/A filing on SEC EDGAR