Wells notice

A Wells notice informs a person that SEC staff intend to recommend enforcement, and invites a written response. Receiving one is not a charge, and some matters end there.

compliance and practice · updated 2026-09-08

See also

• Administrative proceeding — An administrative proceeding is an enforcement action brought before an agency's own tribunal rather than a federal court. Procedu…
• Allegation — An allegation is an assertion that a regulator or prosecutor intends to prove but has not yet proved. Every filed action on this s…

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