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What is a Wells Notice?
A Wells Notice is an official notification sent by the U.S. Securities and Exchange Commission (SEC) to inform a party that the SEC has determined to recommend enforcement action against them for possible violations of federal securities laws or regulations. It typically includes information about which laws may have been violated, as well as any potential remedies and investigations undertaken by the SEC during its investigation. The recipient of a Wells Notice can respond with their own defense, after which point the SEC will decide whether or not to proceed with enforcement action.
