Schwab Receives Wells Notice over Bond Funds

Charles Schwab said it received a Wells notice from the SEC about two bond funds that are the subject of a class action suit and numerous arbitrations.  Investors in the two funds, Yield Plus Fund andTotal Bond Market Fund, allege that the funds were marketed as conservative investments, but lost substantial amounts of their value because of their investments in mortgage-backed securities.  InvNews, Schwab slapped with SEC warning; YieldPlus settlement may be on the horizon.