Wells Notice


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Wells Notice

Written documentation of a coming enforcement action from the Securities and Exchange Commission to the respondent. While a Wells notice is not legally required, it has been standard practice since the 1970s.
References in periodicals archive ?
On August 3, 2015 the Company announced that it "has received a Wells Notice from the staff of the U.
JPMorgan revealed last month that it had received a Wells notice from the CFTC, and that the regulator planned to recommend enforcement action on the bank.
According to the report, Netflix disclosed in a SEC filing on Thursday that the company and Hastings had received a Wells notice from SEC staff, warning of the agency's intentions to file civil charges for violating Regulation Fair Disclosure.
A Wells notice is a notification that you are about to be charged with violations of the securities laws.
Paulson, in a conference call on Monday and followed up with a letter to investors late on Tuesday, says neither he nor anyone else at the firm had received a so-called Wells notice indicating that charges might be filed against the fund, several investors who listened to the call said.
lt;li>State Street receives Wells Notice, may be sued by SEC over securities-law violations (<a href="http://www.
through a Wells notice that it plans to recommend filing civil charges against him, the report said.
To minimize any potential financial consequences of a stock option dating investigation, companies (and individual officers and directors) should evaluate their insurance coverage immediately upon receipt of a Wells Notice, a subpoena or any other formal notice of an investigation or enforcement proceeding.
The largest US tyre maker, which has a UK operation at Wolverhampton, said it received a so-called Wells Notice from the Securities and Exchange Commission, which indicates the SEC may accuse the company of wrongdoing and offers a chance to respond.
The so-called Wells notice was received by the New England Life Insurance Co.
The company also said yesterday it has responded to the Wells Notice sent it by the SEC.
General Mills said the Wells Notice indicates that SEC staff have made a preliminary decision to recommend that the SEC bring a civil action against the company.