Refco Securities, LLC, has received a “Wells Notice” from the Securities and Exchange Commission arising out of the SEC’s previously announced investigation of Refco Securities that commenced in 2001 relating to short sales of stock of Sedona Corporation as well as other transactions.
Under the SEC procedures, Refco Securities has the opportunity to make a submission to the staff outlining why it believes any proposed enforcement action should not be brought. Refco Securities is currently engaged in discussions with the staff regarding the Wells Notice and the possible resolution of this matter, and continues to cooperate fully with the SEC in respect of its investigation.