SEC Issues Wells Notice to Morgan Keegan & Co.

In a Form 8-K filed today by Regions Financial, the company announced that on July 9, 2009, its wholly-owned subsidiary, Morgan Keegan & Company, Inc., received a “Wells” notice from the Staff of the Atlanta Regional Office of the SEC.  Regions Financial disclosed that the SEC staff intends to recommend that the Commission bring enforcement actions for possible violations of the federal securities laws that relate to “certain mutual funds formerly managed by Morgan Asset Management, Inc.”

Read the Regions Financial Form 8-K