SEC Ends Probe Into Wells Fargo MBS Disclosures

Law360, New York (November 28, 2012, 10:13 PM EST) -- The U.S. Securities and Exchange Commission has dropped an investigation into Wells Fargo & Co.’s disclosures in its offering documents for mortgage-backed securities, the bank said Wednesday in a securities filing.

The SEC informed Wells Fargo on Nov. 20 that it will not pursue any enforcement action against it, the filing said. The commission had notified Wells Fargo of the probe into its mortgage-backed securities offerings in February after several private lawsuits alleged the company made misleading statements in such documents.

The company said in its...
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