Reuters-
U.S. securities regulators have dropped an inquiry into Wells Fargo & Co mortgage securities offerings, the bank said in a securities filing on Wednesday.
The staff at the Securities and Exchange Commission notified the bank on Nov. 20 that it closed its investigation and doesn’t plan to recommend an enforcement action, the bank said in the filing.
In February, the No. 4 U.S. bank by assets received a so-called Wells notice from the SEC over disclosures provided in certain mortgage-backed securities offerings. Such notices usually indicate the agency plans to take some kind of enforcement action and gives firms a chance to respond.
[REUTERS]
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