Regions Financial (RF Quote) faces potential enforcement actions from the Securities and Exchange Commission over possible violations of federal securities laws in its asset management unit.
The SEC's Atlanta regional office on July 9 issued Morgan Keegan Asset Management a so-called Wells notice, according to a regulatory filing by the Birmingham, Ala.-based company on Wednesday. Morgan Keegan, based in Memphis, is the investment banking, securities brokerage, trust and asset management businesses of Regions. The filing said that three Morgan Keegan employees also received Wells notices from the SEC.
The Wells notice stated that the SEC "intends to recommend that the commission bring enforcement actions for possible violations of the federal securities laws" related to an ongoing investigation of certain mutual funds formerly managed by the unit, according to the filing. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,388.90 | 1,105.98 | 2,194.35 | 34.83 |
Oil *
77.74
|
|
UP
22.75
|
UP
6.06
|
UP
21.21
|
UP
1.03
|
10 Yr
3.48%
SPDR Gold
113.75
|
|
+0.22%
|
+0.55%
|
+0.98%
|
+3.05%
|
Data delayed 20 minutes |
Connect with TheStreet