Conseco Inc. said in a regulatory filing Thursday it has received both a Wells Notice from the SEC and notification by New York Attorney General Eliot Spitzer’s office that the firm may be charged in relation to improper trading in its variable annuities products.

Specifically, the firm said in the filing that potential enforcement actions by the SEC and Spitzer’s office are "regarding alleged market timing on the part of holders of variable annuity policies issued by Conseco Variable Insurance Co." The firm said it has not issued any variable annuity policies since it sold Conseco Variable Insurance Co., a former subsidiary. Spitzer subpoenaed the firm in October.

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