InterCloud Systems Inc. (ICLD)

[Schwifty]

"Wells the beginning of the end? Far from it! While there is certainly mail one would rather receive, a Wells Notice is simply a letter that FINRA or the SEC sends to individuals or firms (the “Subject”) when it intends to commence an enforcement action. The Notice states that FINRA or the SEC has made a determination that it will commence a litigation/arbitration against that Subject. Specifically, a Wells Notice from FINRA, means that FINRA will be bringing a disciplinary proceeding a/k/a an enforcement arbitration. The Wells Notice provides the Subject the opportunity to explain why, through the facts and the law, the enforcement action should not be brought. While the Notice is not mandatory, it is the custom of both the SEC and FINRA to send one."


http://www.wealthmanagement.com/blog/finra-s-present-wells-notice-it-beatable