Wells notice
From Wikipedia, the free encyclopedia
A Wells Notice is a letter that the U.S. Securities and Exchange Commission sends to people or firms when it is planning to bring an enforcement action against them. The Wells Notice indicates that the SEC staff has determined it may bring a civil action against the target.
Regulators are not legally required to provide a Wells Notice; however, it is the practice of the SEC and the NASD to provide such notice.
[edit] References
- Mark J. Astarita, Esq., The Wells Notice in SEC and NASD Investigations (SECLaw.com, 2005 - www.seclaw.com/docs/wellsnotice.htm)
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