Goldman, Wells Fargo May Face SEC Mortgage-Securities Claims

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Goldman, Wells Fargo May Face SEC Mortgage-Securities Claims

Goldman, Wells Fargo May Face SEC Mortgage-Securities Claims

Bloomberg-

Goldman Sachs Group Inc. and Wells Fargo & Co. were warned by federal regulators that they may face civil claims tied to sales of mortgage-backed securities.

Goldman Sachs received a so-called Wells notice Feb. 24 from the Securities and Exchange Commission relating to disclosures for a late-2006 offering of $1.3 billion in subprime residential mortgage-backed securities, the firm said today in an annual financial report. Wells Fargo said it also got an SEC notice as the government examines whether it properly described facts and risks in offering documents.

[BLOOMBERG]

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