Morgan Keegan & Company, Morgan Asset Management and three employees received a "Wells" notice from the SEC last week in connection with a probe into mutual funds formerly managed by Morgan Keegan, according to an 8-K filing made by Morgan Keegan parent Regions Financial on Wednesday.

The notice, which arrived July 9, informed recipients of SEC staffers' intention to recommend that the commission bring enforcement action for possible breaches of federal securities laws.

Morgan Keegan has been sued by several law firms representing shareholders over losses in RMK bond funds.

In the spring of last year, it moved management of a group of bond funds to Hyperion Asset Management. In January of this year, Morgan Keegan inked a deal to sell the remainder of its retail mutual fund business to Pioneer Investment Management. 

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