A Wells Submission is a formal written response provided by an individual or entity that is under investigation by the U.S. Securities and Exchange Commission (SEC) following receipt of a Wells Notice.Â
The Wells notice alerts the recipient that the SEC intends to recommend enforcement action for alleged violations of securities laws. The Wells Submission offers the recipient an opportunity to present factual evidence, legal arguments, and any mitigating factors that argue against the proposed enforcement action. It serves as the recipient’s chance to persuade the SEC to reconsider and potentially refrain from taking further action based on the presented information.
[Last updated in July of 2024 by the Wex Definitions Team]