The former head of stock trading at Fidelity Investments, Scott DeSano, has joined the firm in receiving a notice from the SEC’s Enforcement Division that it intends to recommend to the full Commission that a civil securities fraud suit be filed related to his acceptance of gifts from brokerage firms.  DeSano was highly regarded for helping drive down Fidelity’s stock commission costs, but was reassigned to a different positin when the the SEC investigation came to light.  The SEC’s investigation of conflicts of interest has led to a stricter enforcement atmosphere regarding Wall Street gift-giving practices that were once viewed as a perk.  A CNN article (here) discusses the SEC’s Wells Notice to DeSano. (ph)